Naspers trading statement

We expect core headline earnings per share to be between 25% (2 726 cents) and 30% (2 835 cents) higher than the comparable period’s 2 181 cents. Shareholders are reminded that the board considers core headline earnings an appropriate indicator of the sustainable operating performance of the group, as it adjusts for non-recurring and non-operational items.

It is expected that earnings per share for the year ended 31 March 2015, will be between 135% (3 422 cents) and 145% (3 567 cents) higher compared to the prior period’s 1 456 cents, mainly as a consequence of gains recognised by our associates on the sale and remeasurement to fair value of investments. These gains have been excluded from both core headline earnings and headline earnings per share.

Headline earnings per share for the year are expected to increase between 15% (1 741 cents) and 20% (1 817 cents) from the prior period’s 1 514 cents.
Further details will be provided in the provisional report, due to be released on or about 29 June 2015. Financial information on which this trading statement is based has not been reviewed or reported on by the company’s auditors.

Cape Town
17 June 2015
Sponsor: Investec Bank Limited