NPN
NPN
Naspers Limited - Trading Statement
Naspers Limited
(Incorporated in the Republic of South Africa)
(Reg. No 1925/001431/06)
Share Code: NPN & IZIN: ZAE000015889
("Naspers")
Trading Statement
The Naspers group is presently finalising its interim report for the six
months ended 30 September 2006. Shareholders are advised that the group
continues to experience favourable trading conditions in most of the
markets in which it operates. This is reflected in operating performance
which remains broadly positive.
However, International Financial Reporting Standards (IFRS), which the
group adopted on 1 April 2004, creates volatility in reported earnings,
particularly as it relates to foreign currency translations and fair value
accounting.
As a consequence, it is anticipated that accounting charges arising in the
period under review and flowing from the application of IFRS, will result
in earnings per share for the six months ended 30 September being between
15% and 25% lower compared to the prior period"s restated earnings per
share of 370 cents.
In contrast, headline earnings per share for the period are expected to be
between 15% and 25% higher compared to the prior period"s restated headline
earnings per share of 361 cents.
As previously outlined, core headline earnings is, in the view of your
board, the appropriate measure of the sustainable operating performance of
the group as it adjusts for non-recurring and non-operational items. We
refer shareholders to our annual financial statements and to the website
www.naspers.com for an analysis of historic headline and core headline
earnings.
Given the generally positive environment in most of our key markets, we
expect core headline earnings per share to be between 35% and 45% higher
than the restated comparable period core headline earnings per share of 323
cents.
Further details will be provided in the interim report, due to be released
on or about 28 November 2006. The financial information on which this
trading statement is based has not been reviewed or reported on by the
company"s auditors.
Cape Town
17 November 2006
Sponsor: Investec Bank Limited
Date: 17/11/2006 03:30:17 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
