Naspers said on Monday its full-year earnings more than doubled, buoyed by improved performance of its e-commerce businesses and contribution from China's Tencent, which accounts for the bulk of earnings and revenues.
The technology investor said its core headline earnings per share, a key indicator of operating performance, from continuing operations rose to 20.7c for the year ended March 31, from a restated 9.8c a year ago.
Naspers, with global investments housed in Amsterdam-listed Prosus, said its consolidated e-commerce business has achieved profitability in the second half of the year, ahead of its expectation for first half of 2025.
The firm posted an annual consolidated e-commerce trading profit of R434.1m, compared with a loss of R7.8bn.
Consolidated revenue from continuing operations grew 8% to R115.7bn, with Classifieds and Food Delivery businesses the biggest contributors, it said.
Naspers controls Amsterdam-listed Prosus and holds its international investments there.
It has investments in food delivery companies iFood of Brazil, Delivery Hero and India's Swiggy, educational software firms such as SkillSoft and Stack Overflow, and payments companies such as India-focused PayU.
Prosus also holds a stake in Chinese software and gaming giant Tencent, which it sold down to 25% from 26.2% last year, to fund a rolling share buyback programme.
Naspers and Prosus said the buybacks benefit shareholders because Prosus is worth 30% less than the value of the Tencent stake, or R1.7-trillion at current prices.
Reuters
Naspers profit doubles on Tencent, e-commerce performance
Image: tencent
Naspers said on Monday its full-year earnings more than doubled, buoyed by improved performance of its e-commerce businesses and contribution from China's Tencent, which accounts for the bulk of earnings and revenues.
The technology investor said its core headline earnings per share, a key indicator of operating performance, from continuing operations rose to 20.7c for the year ended March 31, from a restated 9.8c a year ago.
Naspers, with global investments housed in Amsterdam-listed Prosus, said its consolidated e-commerce business has achieved profitability in the second half of the year, ahead of its expectation for first half of 2025.
The firm posted an annual consolidated e-commerce trading profit of R434.1m, compared with a loss of R7.8bn.
Consolidated revenue from continuing operations grew 8% to R115.7bn, with Classifieds and Food Delivery businesses the biggest contributors, it said.
Naspers controls Amsterdam-listed Prosus and holds its international investments there.
It has investments in food delivery companies iFood of Brazil, Delivery Hero and India's Swiggy, educational software firms such as SkillSoft and Stack Overflow, and payments companies such as India-focused PayU.
Prosus also holds a stake in Chinese software and gaming giant Tencent, which it sold down to 25% from 26.2% last year, to fund a rolling share buyback programme.
Naspers and Prosus said the buybacks benefit shareholders because Prosus is worth 30% less than the value of the Tencent stake, or R1.7-trillion at current prices.
Reuters
READ MORE:
Media24 editors were unaware of possible newspaper closures
Brazilian surprise for Naspers and Prosus
Boost for Naspers as China tempers gaming regulations
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos