|[June 25, 2013]
Naspers Limited Today Announced Its Results for the Year Ended 31 March 2013
CAPE TOWN, South Africa --(Business Wire)--
Naspers (News - Alert) (JSE: NPN) today reported a 27% increase in
consolidated revenue to R50,2bn for the year ended March 2013. Core
headline earnings, considered by the board to be an indication of
sustainable performance, were up 23% on the previous year to R8,5bn or
R22,16 per share. Approximately half of this growth was due to a weaker
rand. The growth in earnings was achieved despite investing R4,3bn to
grow new businesses for the longer-term. Positive free cash flows
amounted to R3,5bn. A dividend increase of 15% to R3,85 is proposed.
"The group posted a solid performance over the past year," Naspers chair
Ton Vosloo said. "We reached a milestone as revenues from our internet
units exceeded that of pay television for the first time."
Internet revenues grew 80% to R34,6bn. Due to costs of developing
ecommerce products and services, trading profits increased at a slower
rate of 44% to R6,2bn.
The pay-television business reported revenue growth of 20% to R30,3bn.
Some 1,1m new subscribers were added during the year and the group now
reaches 6,7m homes in 48 markets across Africa. The 18% growth in
trading proit to R7,6bn was somewhat weighed down by the increased
investment in digital terrestrial television (DTT) and by creating more
local content for viewers.
It was a tough year for the print operations. Media24 reported only
marginal top line and profit growth, but launched several new
Naspers' share of core earnings from associates, including Tencent in
China and Mail.ru Group in Russia, increased by 45% to R7,2bn.
"We hope to expand our ecommerce businesses across more emerging
markets. Also to build our pay-television subscriber base on the African
continent," Naspers CEO Koos Bekker said.
Naspers financial director Steve Pacak added: "We want to build our
existing businesses, whilst investing in future growth. We know this
strategy will mute both short-term earnings and cash flows."
The complete results are available on the Naspers website at http://www.naspers.com.
This media release contains forward-looking statements as defined in the
United States Private Securities Litigation Reform Act of 1995. Words
such as "believe", "anticipate", "intend", "seek", "will", "plan",
"could", "may", "endeavour" and similar expressions are intended to
identify such forward-looking statements, but are not the exclusive
means of identifying such statements. While these forward-looking
statements represent our judgements and future expectations, a number of
risks, uncertainties and other important factors could cause actual
developments and results to differ materially from our expectations.
These include numerous factors that could adversely affect our
businesses and financial performance. We are not under any obligation to
(and expressly disclaim any such obligation to) update or alter our
forward-looking statements whether as a result of new information,
future events or otherwise. Investors are cautioned not to place undue
reliance on any forward-looking statements contained herein.
[ Back To TMCnet.com's Homepage ]