Naspers sees Tencent-inspired profit boost ahead of Amsterdam

Naspers’s full-year earnings rose by as much as a third ahead of the technology group’s planned asset spinoff in Amsterdam, a move designed to reduce its dominance of Johannesburg’s stock exchange.
Published on

By Thomas Pfeiffer

(Bloomberg) – Naspers Ltd.'s full-year earnings rose by as much as a third ahead of the technology group's planned asset spinoff in Amsterdam, a move designed to reduce its dominance of Johannesburg's stock exchange.

Core headline earnings per share, which strip out non-operational items, are expected to have grown by between 31% and 33%, the Cape Town-based company said in a statement ahead of more detailed financials scheduled for June 21.

The market value of Africa's biggest listed company has increased by five times in the past six years, largely due to growth in Naspers's 31% stake in Chinese internet giant Tencent Holdings Ltd. to about $128bn. The company now makes up about 25% of the FTSE/JSE Africa All-Share Index, compared with 5% in 2013.

Related Stories

No stories found.
BizNews
www.biznews.com