Tencent-stakeholder Naspers posts 16% drop in full year profit
The Hindu
The South Africa-listed company holds a 28.78% stake in the Chinese gaming company
Technology investor Naspers said on Monday its full year profit fell 16% as it reinvested its earnings into other businesses and as the contribution from its shareholding in Tencent dropped after a stake sale last year.
The South Africa-listed company posted core headline earnings for the year ended March 31 of $2.1 billion, down from $3.5 billion a year ago, it said in a statement.
Naspers, which holds 28.78% stake in the Chinese internet gaming and social media group Tencent through Amsterdam-listed subsidiary Prosus NV, recorded revenues of $36.7 billion, up 24% from last year.
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