{"id":37935,"date":"2013-05-15T17:40:12","date_gmt":"2013-05-15T15:40:12","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=37935"},"modified":"2013-05-16T09:40:00","modified_gmt":"2013-05-16T07:40:00","slug":"naspers-shares-surge-through-r700","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/mobile\/37935\/naspers-shares-surge-through-r700\/","title":{"rendered":"Naspers shares surge through R700"},"content":{"rendered":"

SA media and e-commerce giant Naspers<\/a> surged to an all-time best figure of R702.45 on the JSE on Wednesday (15 May), pushed by the results of its Chinese investment, Tencent<\/a>.<\/p>\n

At close of play on the local bourse, shares in Naspers ended a fraction under R700 (R699.10), 5.73% or R37.90 higher than at its opening, giving the group a market cap of R290.5 billion.<\/p>\n

Tencent closed up 1.7% on the Hang Seng, before its results were announced.<\/p>\n

Naspers holds a 34% interest\u00a0in Tencent, \u00a0China\u2019s largest listed internet company.<\/p>\n

The group reported a 37% quarter-on-quarter rise in operating profit for the period ended March 2013.<\/p>\n

Its operating profit was US$807.6 million, an increase of 35.9% QoQ and an increase of 37.1% year-on-year.<\/p>\n

Total revenues climbed to US$2.161 billion, an increase of 11.5% over the fourth quarter of 2012 or an increase of 40.4% over the first quarter of 2012.<\/p>\n

Revenues from eCommerce transactions improved 13.6% QoQ to US$305.2\u00a0 million, and was up 154.2% YoY.<\/p>\n

Ma Huateng<\/a>, chairman and CEO of Tencent, said: \u201cDuring the first quarter of 2013, we saw broad-based growth in user engagement and revenue across our key activities.”<\/p>\n

“This growth has enabled us to fund investments in longer-term opportunities such as WeChat international user acquisition, online video content aggregation, and eCommerce footprint expansion, while maintaining a healthy expansion rate in earnings and cash flow.”<\/p>\n

\u201cWe saw both strategic and financial benefits from our portfolio of investee companies, including a further special dividend from Mail.ru<\/a>. We will continue to invest proactively in innovation\u00a0 and technology, and to cultivate our open platform, in order to capture the mobile opportunities ahead and strengthen our position as the leading Internet platform company in China,”\u00a0Huateng said.<\/p>\n

Mail.ru is the largest Russian-language Web company for games and social networks. Naspers holds a\u00a029% stake in Mail.ru, while Tencent owns 7.8%, according to Mail.ru\u2019s website.<\/p>\n

More on Naspers or Tencent<\/h3>\n

Naspers hits new record on Tencent profit rise<\/strong><\/a><\/p>\n

Naspers in $570m Russian internet deal<\/strong><\/a><\/p>\n

Mail.Ru a cash cow for SA firm<\/a><\/strong><\/p>\n

Naspers associate to pay out special dividend<\/strong><\/a><\/p>\n

Naspers: no faith in Facebook<\/strong><\/a><\/p>\n

Naspers hikes Internet revenue by 70%<\/strong><\/a><\/p>\n

Naspers outlines R4.7bn ecommerce drive<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Naspers surged to an all-time best figure of R702.45 on the JSE on Wednesday, pushed by the results of its Chinese investment, Tencent. <\/p>\n","protected":false},"author":10,"featured_media":15768,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[26,3211,107,1977],"class_list":["post-37935","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mobile","tag-headline","tag-mail-ru","tag-naspers","tag-tencent"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37935","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=37935"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37935\/revisions"}],"predecessor-version":[{"id":37938,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/37935\/revisions\/37938"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/15768"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=37935"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=37935"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=37935"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}