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Home Business

South Africa’s Naspers reports 24% rise in full-year profit

by SAT Reporter
June 21, 2021
in Business, in Southern Africa, Just In, South Africa
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South Africa’s Naspers reports 24% rise in full-year profit

A logo sits on display inside the headquarters of Napsters Ltd., at the Media24 Ltd. office complex in Cape Town, South Africa, on Thursday, May 7, 2015. South Africa lacks a coherent economic policy and government departments are failing to work together, said Koos Bekker, billionaire and chairman of Naspers Ltd., Africa’s biggest company. Photographer: Halden Krog/Bloomberg

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JOHANNESBURG,(The Southern African Times) – South African media and e-commerce group Naspers Ltd (NPNJn.J) reported a 24% rise in profit for the year that ended March 31, boosted primarily by the performance of its investment in China’s Tencent Holdings (0700.HK), the company said on Monday.

Africa’s biggest company by market capitalisation reported core headline earnings per share – the main gauge of corporate profit in South Africa – of 814 U.S. cents, up from 656 cents reported for the same period a year earlier.

Its 28.9% stake in the Chinese firm, which it holds through its Amsterdam-listed subsidiary Prosus (PRX.AS), saw its profit grow by 33% in the financial year.

Naspers holds 73% of Prosus, which houses all of its international assets.

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