By Adria Calatayud
Naspers Ltd. (NPN.JO) said Monday that it expects first-half earnings per share to fall sharply, as its year-earlier results received a one-off boost from a sale of its stake in India's Flipkart Ltd.
The South Africa-based investor--which owns a major stake in China's Tencent Holdings through its Amsterdam-listed arm Prosus NV--said it expects EPS for the half year to Sept. 30 to fall by 31%-38%. This would result in EPS for the half of between $4.87 and $5.42 compared with $7.82 for the same period of fiscal 2019, Naspers said.
The company said it will book a $600 million gain on disposal of its interest in MakeMyTrip Ltd. as well as a fair-value gain of $400 million on investments held by Tencent.
Core headline EPS--the company's preferred earnings metric, which excludes non-operational items--are expected to grow by up to 3% on year, Naspers said. The company said it expects core headline EPS of between $3.80 and $3.91 for the first half compared with $3.80 a year earlier.
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