Chinese internet giant Tencent and e-commerce businesses have helped lift Naspers\u2019 revenues by 6% to $12.2 billion for the financial year ended March 31 2016.<\/p>\n
In its full-year results, Naspers reported on Friday that its core headline earnings are up 21% in dollar terms to $1.2 billion and that 77% of its revenues were generated outside of South Africa.\u00a0Naspers, in its results announcement, said it regards core headline earnings as its best indicator of sustainable earnings.<\/p>\n
A key component to Cape Town headquartered Naspers is its 34% stake in Chinese internet giant Tencent. For the year ended December 31 2015, Tencent recorded 30% annual growth to 102.9 billion yuan.<\/p>\n
Meanwhile, Naspers\u2019 stake in Russian email service, Mail.ru, also yielded positive results as that business unit\u2019s revenue for the year ended December 2015 rose 11% to 36.3 billion rubles.<\/p>\n
Naspers\u2019 e-commerce revenues further increased 6% to $2.6 billion.<\/p>\n
\u201cOur ecommerce businesses benefit both from the continued growth of existing businesses and investments in new models,\u201d said Naspers\u2019 CEO Bob van Dijk.<\/p>\n
However, Naspers\u2019 video entertainment revenues were down 11% year on year to $3.4 billion, owing to weaker African currencies.<\/p>\n
The South African consumer base of Naspers\u2019 video entertainment business, though, increased by 325 000 subscribers.<\/p>\n
\u201cOverall the group delivered a satisfactory performance,\u201d said Naspers chair Koos Bekker.<\/p>\n
News24<\/a><\/p>\n Naspers expects improved earnings<\/strong><\/a><\/p>\n Naspers market cap hits R1 trillion<\/strong><\/a><\/p>\n Naspers sets up shop in the United States<\/strong><\/a><\/p>\nMore on Naspers<\/h3>\n