Naspers Limited Today Announced Its Results for the Year Ended 31 March 2012
Growth Across Most Businesses
CAPE TOWN, South Africa -- June 27, 2012
Naspers (JSE: NPN) today reported a 19% increase in consolidated revenue to
R39,5 billion for the year ended 31 March 2012. Core headline earnings,
considered by the board to be a good indication of sustainable performance,
were up 15% on the previous year to R6,9 billion or R18,50 per share. This was
achieved while accelerating the organic development of businesses and
incurring costs of R2,8 billion in the process. Positive free cash flows
amounted to R3,6 billion. A dividend increase of 24% to R3,35 is proposed.
“We experienced stronger growth across most of our businesses,” Naspers
chairman Ton Vosloo said. “The internet remains the key growth area, with
several new services being developed.”
Internet segment revenues advanced 59% year on year to R19,2 billion. Due to
an increased focus on scaling e-commerce platforms and building operations
organically, trading profits increased at a slower rate of 9% to R3,8 billion.
The pay-television business recorded satisfactory subscriber growth and now
reaches 5,6 million households across the African continent. The addition of
684 000 subscribers delivered revenue growth of 15% to R24,1 billion. Trading
profit growth was trimmed to 11% due to investment in broadcasting
infrastructure and technology, including the rollout of digital terrestrial
television services in a number of sub-Saharan countries.
Print operations in South Africa had a slightly steadier year and reported 15%
revenue growth largely due to new commercial print contracts. Trading profits
recovered somewhat as the business continued to manage costs.
Naspers’ share of core earnings from associates, including Tencent in China,
Mail.ru Group in Russia and Abril in Brazil, increased by 38% to R5 billion.
“The markets and specific business sectors in which we operate remain lively,”
Naspers CEO Koos Bekker said. “We have many competitive, regulatory and
technology challenges, but we also have opportunities.”
Naspers financial director Steve Pacak added: “We will focus on growing our
business for the long term. I expect the current levels of development spend
to continue as we build businesses organically.”
The complete results are available on the Naspers website at
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.
Meloy Horn, Head of Investor Relations
Tel: +27 11 289 3320
+27 11 289 4446
Mobile: +27 82 772 7123
Steve Pacak, Financial Director
Tel: +27 21 406 3585
+27 21 406 2480
Mobile: +27 83 250 0006
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