Tuesday, June 30, 2009

Naspers soars 30%

Print circulations in South Africa and China held up, but advertising revenues were stagnant.

SHOOT: They're fortunate to be involved in Developing Markets. How has AVUSA done by comparison? Go here: http://www.nickvanderleek.com/2009/06/avusa-expands-revenue-bby-6-12-said-to.html

Naspers reports revenues up 30% to R26,7 billion for the past financial year.

In a SENS statement, the publisher reports operating profit before amortisation and gains/losses advanced 21% to R5,1 billion, whilst core headline earnings grew 9% to R4,4 billion.

The report states that overall, the group's growth was satisfactory with emerging markets at the centre of their strategy.

They also report that recent internet acquisitions - Allegro, Ricardo and Gadu-Gadu - performed steadily while associates, Tencent in China and mail.ru in Russia, expanded.

Naspers reports revenue growth of 30% in the aggregate was recorded over the period. Drivers were both existing operations, which accounted for 19%, and new acquisitions, which added 11%. The internet segment was boosted by the inclusion of Allegro and Ricardo (formerly Tradus). Pay-TV revenues increased by 29% as a result of its gross subscriber growth of 683 000 households.

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