Naspers FY HEPS down 2% !!! Annual gross dividend increased by 10% to 425c. South African e-commerce and media firm Naspers reported a 2 percent contraction in full-year earnings after ratcheting up spending on expansion. Naspers core headline earnings per share decreased to 2,181 cents from 2,216 cents for the year ended March 31. Analysts polled by Reuters had forecast they would rise by as much as 15 percent. Naspers treats core headline earnings, which exclude some one-off items, as the main measure of profit. Naspers will pay a 425 cent per share dividend, 10 percent higher than the previous year. The companys revenue grew 26 percent to 62.7 billion rand ($5.85 billion) while development spending jumped 79 percent to 7.7 billion rand. The company has been strengthening its e-commerce muscle and in February plucked the head of its eastern European on-line marketplace, Bob van Dijk, as its new CEO. Naspers 33.73 percent stake in Tencent, Chinas largest listed tech firm with a market value of nealy $140 billion, is worth nearly as much as Naspers market value. The share price has gained 16 percent this year to nearly 1,270 rand, driving it price earnings ratio to 99 times and making it one of the most expensive stocks on the Johannesburg bourse. Highlights :- Consolidated revenues grew 26% to R62,7bn Net interest on borrowings increased to R1,261bn (2013: R636m) Tencent and Mail.ru reported strong growth. An impairment charge of R1,6bn has been recognised Consolidated balance sheet gearing stands at 23%. Annual gross dividend to be increased by 10% to 425c (previously 385c) per listed N ordinary share, and 85c (previously 77c) per unlisted A ordinary share. Compiled by : Kgomotso Mohajane
Posted on: Mon, 23 Jun 2014 07:46:50 +0000
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