Africa’s biggest media company, Naspers, reported a 4% rise in core earnings, in line with expectations, as it signed up more pay-TV customers, but headline profit fell due to an accounting charge.
The company said on Tuesday core headline earnings per share, which the company views as the best measure of its underlying performance, rose to 1 179 cents, in line with its own forecast for a 0% to 10% increase.
But headline EPS, which strips out certain one-off and non-trading items, slid 23% to 826 cents, at the bottom end of its prediction for a fall of 15% to 25%, due to a higher accounting charge related to recent acquisitions.
Naspers, which owns Africa’s biggest pay-TV network, DStv, and has stakes in companies in China, Brazil, Russia and Europe, said it would increase its dividend by 15% to 207 cents.
Naspers is also listed in London. — Reuters