• diary political and General News Events from Feb 2

investments

Impairment of equity (150) - -

accounted investment

Profit before taxation 1 446 1 497 3 189

Taxation (571) (430) (935)

Profit after taxation 875 1 067 2 254

Profit from discontinued - 43 32

operations

Profit arising on - - 1 032

discontinuance of

operations

Profit for the year 875 1 110 3 318

Attributable to:

Naspers shareholders 824 1 048 3 161

Minority shareholders 51 62 157

875 1 110 3 318

Core headline earnings 1 308 914 2 027

for the period (R"m)

Core headline earnings 450 323 714

per N ordinary share

(cents)

Headline earnings for the 1 276 1 024 2 168

period (R"m)

Headline earnings per N 439 361 764

ordinary share (cents)

Fully diluted headline 415 337 722

earnings per N ordinary

share (cents)

Earnings per N ordinary 284 370 1 114

share (cents)

Fully diluted earnings 268 345 1 053

per N ordinary share

(cents)

Net number of shares

issued ("000)

- At period-end 291 355 284 848 290 555

- Weighted average for 290 555 283 154 283 719

the period

- Fully diluted 307 394 303 265 300 243

weighted average

Condensed Consolidated Balance Sheet

30 30 31

September September March

2006 2005 2006

Reviewed Reviewed Audited

R"m R"m R"m

ASSETS

Non-current assets 11 345 7 097 7 186

Property, plant and 3 991 3 697 3 689

equipment

Goodwill and other 1 495 1 204 1 159

intangible assets

Investments and loans 5 006 1 264 1 297

Programme and film rights 212 50 171

Derivative financial 27 29 33

instruments

Deferred taxation 614 853 837

Current assets 8 099 7 748 10 067

TOTAL ASSETS 19 444 14 845 17

253

EQUITY AND LIABILITIES

Share capital and premium 5 433 5 481 5 561

Other reserves (1 688) (2 489) (3 344)

Retained earnings 5 287 2 701 4 815

Naspers shareholders" 9 032 5 693 7 032

interest

Minority shareholders" 192 158 172

interest

Total shareholders" 9 224 5 851 7 204

equity

Non-current liabilities 2 782 3 137 3 372

Capitalised finance 1 628 1 689 1 444

leases

Liabilities - interest- 241 589 722

bearing

- non-interest-bearing 496 186 551

Post-retirement medical 150 150 153

liability

Deferred taxation 267 523 502

Current liabilities 7 438 5 857 6 677

TOTAL EQUITY AND 19 444 14 845 17 253

LIABILITIES

Net asset value per N 3 100 1 999 2 420

ordinary share (cents)

Condensed Consolidated Cash Flow Statement

Six months Six months

ended ended Year

ended

30 30 31 March

September September

2006 2005 2006

Reviewed Reviewed Audited

R"m R"m R"m

Cash flow from operating 1 598 1 295 3 166

activities

Cash flow utilised in (4 083) (624) (335)

investment activities

Cash flow (utilised (1 416) (183) 25

in)/from financing

activities

Net movement in cash and (3 901) 488 2 856

cash equivalents

Calculation of Core Headline Earnings

Six months Six months

ended ended Year

ended

30 30 31 March

September September

2006 2005 2006

Reviewed Reviewed Audited

R"m R"m R"m

Net profit attributable 824 1 048 3 161

to shareholders

Adjusted for:

- impairment of - - 69

goodwill and other assets

- profit on sale of

property, plant

and equipment (6) (7) (17)

- discontinuance of - - (1 032)

operations

- loss/(profit) on sale 308 (17) (13)

of investments

- impairment of equity

accounted

investments 150 - -

Headline earnings 1 276 1 024 2 168

Adjusted for:

- profit from - (43) (32)

discontinued operations

- creation of deferred (35) (10) (42)

tax assets

- amortisation of 51 34 51

intangible assets

- fair value

adjustments and currency

translation differences 16 (91) (118)

Core headline earnings 1 308 914 2 027

Supplementary Information

Six months Six months

ended ended Year

ended

30 30 31 March

September September

2006 2005 2006

Reviewed Reviewed Audited

R"m R"m R"m

Depreciation of property, 323 276 596

plant and equipment

Amortisation of 87 48 96

intangible assets

Share-based payment 82 80 135

expenses (IFRS 2)

Other gains - net 116 13 -

- profit on sale of 7 12 17

property, plant and

equipment

- impairments of - - (69)

goodwill and intangible

assets

- impairments of (1) - -

tangible assets

- dividends received 3 1 2

- fair value adjustment 107 - 50

on shareholders"

liabilities

Finance costs 466 25 (16)

- interest received (128) (117) (279)

- interest paid 79 64 98

- interest on finance 78 87 177

leases

- net foreign exchange 337 (14) (5)

differences

- net fair value 100 5 (7)

adjustments on derivative

instruments

Investments and loans 5 006 1 264 1 297

- listed investments 1 407 1 143 1 163

- unlisted investments 3 599 121 134

Market value of listed 11 384 4 862 6 506

investments

Directors" valuation of 3 599 121 134

unlisted investments

Commitments 3 394 3 699 2 860

- capital expenditure 382 343 445

- programme and film 2 070 1 574 1 426

rights

- network and other 339 304 364

services commitments

- operating lease 472 1 335 359

commitments

- set-top box 131 143 266

commitments

Condensed Consolidated Statement of Changes in Equity

Six months Six months

ended ended Year

ended

30 30 31 March

September September

2006 2005 2006

Reviewed Reviewed Audited

R"m R"m R"m

Balance at beginning of 7 204 5 068 5 068

period

Movement in treasury 9 60 65

shares

Share capital and premium (137) - 106

issued

Foreign currency 1 562 3 (14)

translations

Movement in fair value - (24) (24)

reserve

Movement in cash flow 65 6 (1)

hedging reserve

Movement in share-based 60 101 135

compensation reserve

Transactions with (30) (213) (1 113)

minority shareholders

Net profit for the period 875 1 110 3 318

Dividends (384) (260) (336)

Balance at end of period 9 224 5 851 7 204

Directors

T Vosloo (chairman), JP Bekker (managing director), F-A du Plessis, GJ

Gerwel, RCC Jafta, LN Jonker, SJZ Pacak, FTM Phaswana, BJ van der Ross, NP

van Heerden, JJM van Zyl, HSS Willemse

Company secretary

GM Coetzee

Registered office Transfer secretaries

40 Heerengracht, Link Market Services South Africa

Cape Town 8001 (Proprietary) Limited

(P O Box 2271, 11 Diagonal Street,

Cape Town 8000) Johannesburg 2001

(PO Box 4844, Johannesburg 2000)

ADR programme

The Bank of New York maintains a Global BuyDIRECTTM plan for Naspers Limited.

For additional information, please visit The Bank of New York"s website at

www.globalbuydirect.com or call Shareholder Relations at 1-888-BNY-ADRS or 1-

800-345-1612 or write to: The Bank of New York, Shareholder Relations

Department - Global BuyDIRECTTM, Church Street Station, P O Box 11258, New

York, NY 10286-1258, USA.

For a more detailed exposition, visit the Naspers website at www.naspers.com

Date: 28/11/2006 09:00:19 AM Produced by the JSE SENS Department
228951
Document JSEXCH0020061128e2bs00005

UPDATE 4-Naspers boosts profit, CEO to take year off
By Rebecca Harrison

606 words

28 November 2006

02:30 AM

Reuters News

LBA

English

(c) 2006 Reuters Limited
(Adds details from conference call paragraphs 6,9,15, updates shares to close)
JOHANNESBURG, Nov 28 (Reuters) - Africa's biggest media company, Naspers , posted a 22 percent rise in first-half headline earnings per share, but its stock slid after its veteran chief executive said he was taking a year off.
Naspers, which runs Africa's only pay-TV network and publishes South Africa's top-selling newspaper, the Daily Sun, said on Tuesday that headline EPS rose to 439 cents in the six months to end September from a restated 361 cents in the year-ago period, meeting its forecast range for 15-25 percent growth.
The company warned higher interest rates in Africa's biggest economy may crimp consumer spending, while a weaker rand could make investing abroad pricier, and said spending on Internet and mobile TV technologies could hit second-half profits.
But investors noted the company is known for gloomy predictions that often fail to materialise, and said the real concern was the departure of CEO Koos Bekker on a year's sabbatical, which helped knock the stock over 4 percent lower.
"The results were great, and they always give cautious outlooks, but I think the guys are concerned about Koos Bekker's departure," said one media analyst. "Even though it's only for a year, he is the strategic direction behind the firm."
Bekker, who has worked at Naspers for 21 years and pioneered the company's lucrative drive into pay-TV and its expansion into emerging markets, told a conference call he wanted to avoid "losing his daring" during a final five years as CEO.
He would spend the year studying media trends in Korea, China and the United States and would be replaced by Cobus Stofberg, head of Naspers' electronic media unit.
Naspers shares, which are also listed in New York, closed 4.3 percent lower at 144 rand, lagging the Johannesburg Top-40 index of blue-chips <.JTOPI>, which fell 1.06 percent.
TOUGHER TIMES AHEAD?
Naspers faces competition in its core pay-TV business for the first time next year after the South African regulator invited bids for licences. Bekker said he expected the regulator to issue new licences in the second quarter of 2007.
Naspers gained 62,000 extra pay-TV customers, with strong growth in Africa, and advertising revenues rose 21 percent.
While the firm warned of tougher times ahead, Naspers Chief Financial Officer Steve Pacak told Reuters three interest rate hikes since June had not yet dented domestic demand.
Business in foreign markets like China, Brazil, Greece, Nigeria and Angola was positive, although Naspers warned a weaker rand currency would inflate costs abroad.
"These are good results with pay-TV and print media showing good growth, despite continued warnings from management that ad revenues will soften," said Abdul Davids, portfolio manager at investment managers Allan Gray.
Pacak told Reuters Naspers was still on the prowl for acquisitions in China, Brazil and Russia and expected "quite a lot of activity" in the next 12 months, but would focus on organic growth in India, where valuations for media firms were too high.
The company has employed 50 people to launch a small youth-focused Internet start-up in India, a move welcomed by analysts worried about high price tags for acquisitions.
Headline EPS excludes non-trading, capital and certain extraordinary items and is the key profit measure for South African firms. (Additional reporting by James Macharia)
NASPERS-RESULTS/ (UPDATE 4)|LANGEN|ABN|E|RBN|SF|AFN|D|RNP|DNP|PCO
Document LBA0000020061128e2bs000i8

Naspers Limited Today Announced Its Interim Results for the Six Months Ended 30 September 2006
777 words

28 November 2006

02:22 AM

Business Wire

BWR

English

(c) 2006 Business Wire. All Rights Reserved.
CAPE TOWN, South Africa - (BUSINESS WIRE) - Naspers Limited (NASDAQ: NPSN) (JSE: NPN) reported revenues up by 22% to R9,1 billion, core headline earnings of R1,3 billion and free cash flow of R1,0 billion for the six months ended 30 September 2006.
"Growth was satisfactory as trading conditions in most of the markets in which we operate have remained favourable," commented Naspers chairman Ton Vosloo. "We do not think this can last indefinitely, especially as indications are that the macroeconomic environment in South Africa may be tightening. In our other markets such as China, Brazil, Greece, Nigeria and Angola short-term conditions seem generally positive."
Naspers financial director Steve Pacak said the company had made investments totalling some R3,7 billion over the period. "Major acquisitions included a 30% interest in the leading Brazilian media company, Abril, the acquisition of the CryptoTec conditional access business and an additional 12% interest in NetMed, the pay-television operation in Greece.
"The group is also developing a number of businesses organically. These are focused on broadband technologies, the internet and mobile television. It is anticipated that this development spend will accelerate in the second half of the year, negatively impacting earnings and cash flows."
Over the period the total pay-TV subscriber base grew by a net 62 000 to 2,07 million subscribers under management. The South African internet business remains profitable but growth is ponderous due to the lack of broadband connections and slow establishment of the second network operator.
Irdeto, the conditional access business, reported revenue growth of 87% through a combination of organic growth from existing and new customers and the acquisition of Philips CryptoTec. Entriq, the broadband technologies unit, continued to gain traction.
Newspapers and magazines benefited from the robust advertising market. New titles were launched and circulation figures remained generally stable.
Naspers CEO, Koos Bekker commented: "We launched broad-based BEE ownership initiatives in all our SA businesses housed in South Africa. The Media24 and MultiChoice South Africa BEE schemes included a public offer of ordinary shares to qualifying Black people and groups. Both were nearly three times subscribed. We were delighted with the extent of interest from ordinary individuals, many investing for the first time. We anticipate that each scheme will have more than 100 000 individual investors, making them two of the most widely held companies in the economy."
Following the success of these schemes, the Naspers board agreed to make available another 7,5% of MultiChoice South Africa shares to those BEE investors whose applications had not been fulfilled because of oversubscription.
The board also announced that Koos Bekker would be granted an unpaid sabbatical for one financial year, from 1 April 2007 to 31 March 2008. Bekker has already been heading up a major media company for 21 years and a listed one for 16. Cobus Stofberg, present head of MIH, will stand in as CEO. Bekker will resume his duties on 1 April 2008 for a final stint of 5 years.
The complete results are available on the Naspers website at http://www.naspers.com .
IMPORTANT INFORMATION
This press release contains forward-looking statements. While these forward-looking statements represent our judgements and future expectations, a number of risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, the key factors that we have indicated that could adversely affect our businesses and financial performance contained in our past and future filings and reports, including those filed with or furnished to the U.S. Securities and Exchange Commission (the "SEC"). We are not under any obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements whether as a result of new information, future events or otherwise. Investors are cautioned not to place undue reliance on any forward-looking statements contained herein.
Investors will be able to obtain any documents filed with the SEC from the SEC's Public Reference Room at 450 Fifth Street, N.W., Washington, D.C. 20549. Telephone: [phone], Fax: [phone]. E-mail: [e-mail]. Documents filed with or furnished to the SEC by Naspers (other than certain exhibits) are also available free of charge from The Company Secretary, Naspers Limited, 40 Heerengracht, Cape Town 8001, South Africa, Telephone: [phone].
Document BWR0000020061128e2bs001b9
TELECOM_WORLD_2006'>Industry's Who's Who prepares for ITU TELECOM WORLD 2006
1,081 words

24 November 2006

Al-Bawaba News

ALBAWA

English

(c) 2006 Al-Bawaba
With a number of new growth areas and next-generation products and services set to revolutionize the way we communicate on a global scale, the information and communication technology (ICT) industry is showing very positive signs of good health. Nowhere is this good health more in evidence than at ITU TELECOM WORLD 2006, taking place in Hong Kong, China from 4-8 December, where top ICT players from around the world will flock to make the right connections, explore
With a number of new growth areas and next-generationproducts and services set to revolutionize the way we communicate on a global scale,the information and communication technology (ICT) industry is showing very positivesigns of good health. Nowhere is this good health more in evidence than at ITUTELECOM WORLD 2006, taking place in Hong Kong, China from 4-8 December, where topICT players from around the world will flock to make the right connections, explorethe latest ICT innovations and enjoy the industry's renewed vigour.
Along with the biggest industry names, exhibiting companies and organizations willalso encompass new technology segments and growth regions from around the world. Aswell as extensive geographical reach, exhibiting companies at ITU TELECOM WORLD 2006will represent the full diversity of the industry from next-generation networks tomobile, wireless, broadband, digital content and much more. Exhibiting companieswill represent countries as diverse as Canada, the US, UK, Japan, the Netherlands,Slovenia, China, India and Nigeria amongst others, underscoring the event's trulyglobal nature.
"We are very pleased to welcome such an impressive mix of exhibiting companies toHong Kong, China and to our WORLD event. This broad-based participation, both ingeographically and in terms of the range of technologies represented, shows that theICT industry is truly back in fighting fit form," said Yoshio Utsumi, ITUSecretary-General. "It is my belief that this WORLD event will be a criticalmilestone for the industry, in terms of new technologies unveiled, connections thatwill be forged as well as positive progress which will be made in extending thereach of ICTs."
Major industry names will be in evidence throughout a packed venue, from the ShowFloor, to the TELECOM VILLAGE, the Forum and elsewhere. Top players include ChinaMobile, China Telecommunications, Hitachi, HP, Huawei, LG, Microsoft, Motorola, NEC,OKI, QUALCOMM, SK Telecom, Sun Microsystems and ZTE. Click here for a full list ofExhibiting companies.
"ITU TELECOM WORLD is widely recognized as the premier telecommunications industryevent, bringing together leading operators, software and hardware providers,integrators, government officials and others in one venue," said Michael O'Hara,general manager for the Communications Sector, Microsoft. "It's a very excitingtime for our industry, and we at Microsoft are focused on helping to shape thefuture through innovation, technology and partnership with the world'stelecommunications organizations."
"Motorola believes the next wave of innovation is upon us - everything is gettingdigitized, everything digital is going mobile and broadband is becoming as pervasiveand as essential as air," said Dr. Simon Leung, LL.D., president, Motorola AsiaPacific. "ITU TELECOM WORLD provides a unique networking platform to connect, informand enlighten the great minds and companies within the global wirelesstelecommunications industry."
"ITU TELECOM WORLD is one of the world's leading ICT events," said Bill Davidson,vice president, Global Marketing and Investor Relations for QUALCOMM. "QUALCOMM iscommitted to supporting our partners throughout the wireless value chain, and theITU event provides a good venue for us to connect with both existing and newpartners."
"ITU TELECOM WORLD has consistently proven to be the ultimate event for networkingwith all of the major players in the worldwide telecommunications industry," saidDarrell Jordan-Smith, vice president of communications at Sun Microsystems. "With2006 seeing major growth in the telecommunications industry, Sun Microsystems iscommitted to finding new and innovative ways to connect the global community throughopen standards-based technologies to acellerate growth in the telecommunicationsindustry. We believe that open standards and participation create great ideas andwhen great ideas are shared, anything is possible."
As well as major established corporations, a number of new exhibitors are alsotaking part in the event, representing dynamic growth sectors and cutting-edgetechnologies from around the world. First time exhibitors at a WORLD event includeAgilent Technologies, Business Logic Systems, China Mobile, China Netcom,PacketVision, Trolltech, ICANN, and avex/ChengTian.
According to Charlie Horrell, CEO, PacketVision, "As a young company addressing theglobal IPTV market, Packet Vision needs to make every dollar count. ITU TELECOMWORLD 2006 promises to be an excellent springboard to launch us into a number of keyterritories. Logistics have been painless and the show looks like being a veryeffective way both to reinforce existing relationships and to meet potential newpartners and customers."
Meanwhile, David Walker, CEO of leading mobile customer prepaid loyalty player,Business Logic Systems, added, "As the company grows from strength to strength, thetime is now right for us to attend this 'Olympics' of the telecoms industrycalendar. With a large proportion of our current tier one mobile operator businesslocated in the Asia-Pacific Region, as well as several recently opened regionaloffices, ITU TELECOM WORLD's Hong Kong location is all the more relevant for us. Wehave a great deal to offer mobile operators in the region who are looking tomaximize revenues from their prepaid subscriber bases. We look forward to anextremely successful event."
"ITU brings together industry thought leaders in the global telecom arena and is amust for companies aiming to spearhead mobile innovation," says Haavard Nord, co-CEOof Trolltech. "Over 4 million phones built with Trolltech's Qtopia platform forLinux-based mobiles have already shipped, and our presence will put the spotlight onLinux as a serious and fast-growing player in the mobile phone space."
The event will also recognize ICT achievements from around the world. National andRegional pavilions will highlight the ICT sectors of Belgium, Canada, Egypt, theNetherlands, Finland, France, Hong Kong (China), Israel, Japan, the Republic ofKorea, Macau (China), Russia, Spain, the UK and the US. Industry Pavilions will lookat the explosive impact of the Internet, GPON and WiMAX around the world.
Also new to the show floor will be the Digital Life Theatre, a dynamic, futuristicpresentation venue where visitors can watch showcase presentations on the future ofthe Digital World.
Hosted by the government of the People's Republic of China, and organized by ITU,ITU TELECOM WORLD 2006 stands out as the most international ICT tradeshow andnetworking event of the year.
Accredit now to be sure to be part of this crucial event. www.itu.int/WORLD2006/registration/index.html .
© 2006 Al Bawaba ( www.albawaba.com )
Document ALBAWA0020061124e2bo00003
Mobile Tornado Group PLC - Directorate Change
1,069 words

24 November 2006

02:00 AM

Regulatory News Service

RNS

English

(c) 2006
RNS Number:6317M Mobile Tornado Group PLC 24 November 2006