Naspers Ltd., South Africa's largest media company, raised the pay for Chief Financial Officer Stephen Pacak by 8.2 percent to 4.35 million rand after fiscal 2006 profit gained 34 percent.
Pacak received 4.02 million rand in the same period the year earlier, the Cape Town-based company said in its annual report posted on its Internet site today. Base salary rose 6 percent to 1.96 million rand, while bonuses and performance-related pay increased 10 percent to 2.2 million rand.
Net income in the year ended in March at Naspers climbed to 3.19 billion rand, the company said in June. Naspers made about 1 billion rand by selling its stake in United Broadcasting Public Corp., Thailand's biggest pay-television company.
Naspers' print media unit, which owns the Daily Sun, South Africa's largest daily newspaper, boosted revenue by 18 percent to 3.9 billion rand as circulation numbers rose. The company also owns Africa's only pay television station. It said in June it was focusing on expansion in Brazil, Russia, India and sub-Saharan Africa where growth opportunities were most favourable.
The company's shares have risen 10 percent in the past year, trailing a 32 percent gain by the country's benchmark index. The shares fell 65 cents, or 0.6 percent, 117.80 rand on Tuesday.