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Robust pay-TV, Internet help Naspers earnings

Nov 26, 2009 10:05 AM | By Sapa

Naspers is reporting a 36% increase in first-half core headline earnings per share, helped by a robust performance from its pay-TV and Internet units.


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Naspers CEO Koos Bekker
Naspers CEO Koos Bekker
Photograph by: SHELLEY CHRISTIANS
Credit: The Times

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Naspers, which owns Africa’s biggest pay-TV network DStv, said core headline earnings per share rose to 648 cents in the six months to end-September and in line with its forecast range of 30-40% rise.

Revenue rose 6% to 13.5 billion rand, boosted by growth of 352,000 new pay-TV subscribers and a strong performance at its Internet unit.

But the company said its print media business was under pressure as slower consumer spending in South Africa hit advertising revenue.

Naspers, which has stakes in companies in China, Brazil and Russia, gave no outlook for the second half.

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