Naspers is expecting its full year core headline earnings per share (HEPS) to be between 15% and 20% higher than the previous comparable period. The company could add as much as 51 US cents to last year's core HEPS of 255 US cents per share.
The South African-based global Internet and media company's board says it considers core headline earnings "an appropriate indicator of the sustainable operating performance of the group, as it adjusts for non-recurring and non-operational items".
This as it warns that earnings per share (EPS) for the year ended 31 March 2016, will likely be between 20% (62 US cents) and 25% (78 US cents) lower compared to the prior period's 311 US cents. HEPS are expected to rise as much as 5%, or 8 US cents, for the period when including non-recurring and non-operational items.
Africa's biggest company by market value announced earlier this year that it would be switching to US dollar reporting for its results. Restated comparative US dollar financial information was published via SENS on 18 April 2016.
Naspers' shares on the JSE rose on the back of the news, closing 2% up after the trading statement was published at R2185.36 per share. The company's market cap is worth over R958 billion.
Naspers' results for the year ended 31 March 2016 are expected to be released on or around 24 June.
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