November 19, 2018 / 3:29 PM / a year ago

South Africa's Naspers sees higher first-half core headline profit

(Reuters) - South African media and e-commerce giant Naspers Ltd (NPNJn.J) said on Monday it expects first-half core headline earnings per share to be between 35 percent and 43 percent higher than a year earlier.

Cape Town-based Naspers, which owns the largest stake in China’s Tencent Holdings (0700.HK), said core headline earnings per share are expected to be between 98 cents to $1.18 higher for the six months ended Sept. 30, from $2.77 a year earlier.

Core headline earnings per share is Naspers’ main profit measure that strips out non-operational and one-off items.

Naspers said first-half earnings per share were significantly boosted by the once-off gain after it sold here its entire 11.18 percent stake in Indian e-commerce firm Flipkart to Walmart Inc (WMT.N) for $2.2 billion.

Reporting by Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr

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