JSE focused on Naspers interims on Friday

Naspers said it expected its “core” headline earnings per share (HEPS) for the six months to end-September to grow about 40% of the corresponding period’s “adjusted” $2.77.

“Shareholders are reminded that the board considers core headline earnings an appropriate indicator of the operating performance of the group, as it adjusts for non-recurring and non-operational items,” the trading statement said.

The group’s policy is to pay only a final dividend, so the windfall from the Flipkart disposal will not be shared with investors yet.

Naspers’s dominant asset, its 31%-holding in Chinese internet firm Tencent, was up 0.71% to HK$314.20 ahead of the JSE’s opening on Friday, indicating Naspers will rebound from Thursday’s 2.57% drop to R2,820.

The SA Revenue Service (Sars) is scheduled to release October’s balance of trade figures at 2pm. SA is expected to have imported about R3bn more than it exported, keeping the deficit close to September’s level.