Naspers’ pay-TV revenue up 18%

According to the group’s half year results, Naspers reported an increase in headline earnings to 4.4 billion rand in 2014 comparable to 3.6 billion rand for six months ending 30 September 2013.

The global platform operator saw its pay-TV segment revenues surging by 18 per cent to 20.2 billion rand year on year.

“Trading profit of five billion rand increased at a lower 11 per cent due to investments to build DTT and online services and expand the local content offering,” the company said in a statement.
The company also reported tax expense increasing to 1.75 billion due to higher profits in pay television, the Allegro marketplace and the online price-comparison businesses.”

The group statement also reported subscriber base growing by 342 000 during the six months to over 8.4 million households.

“Our businesses continued to deliver strong growth for the six months to 30 September 2014, with revenues measured on an economic-interest basis expanding by 30 per cent year on year,” said the group. “During the period we made solid progress in building our ecommerce and pay-television platforms. Core headline earnings increased by 24 per cent”.

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