{"id":450619,"date":"2020-11-23T08:47:17","date_gmt":"2020-11-23T06:47:17","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=450619"},"modified":"2020-11-23T08:48:28","modified_gmt":"2020-11-23T06:48:28","slug":"naspers-results-boosted-by-food-delivery-education-surge","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/media\/450619\/naspers-results-boosted-by-food-delivery-education-surge\/","title":{"rendered":"Naspers results boosted by food delivery, education surge"},"content":{"rendered":"<p>Consumer internet company, Naspers on Monday (23 November) reported revenue growth of 32% for the six months ended September 2020, to $13 billion, boosted by growth across food delivery, online retail (etail) and education.<\/p>\n<p>The company reported the following strong numbers:<\/p>\n<ul>\n<li>141% revenue growth of food delivery;<\/li>\n<li>69% revenue growth in etail;<\/li>\n<li>54% revenue growth in edtech.<\/li>\n<\/ul>\n<p>Group trading profit increased by 42% to $2.6 billion, while core headline earnings were $1.6 billion driven by improved profitability from ecommerce units and the growing contribution from Tencent.<\/p>\n<p>The year-on-year 5% decrease reflects that Naspers owns 72.66% of Prosus in the current financial year and owned 100% in the prior year, Naspers said. Prosus revenues grew 32% to $12.7 billion.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/11\/Naspers-1.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-450633\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/11\/Naspers-1.png\" alt=\"\" width=\"773\" height=\"536\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/11\/Naspers-1.png 773w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/11\/Naspers-1-300x208.png 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2020\/11\/Naspers-1-768x533.png 768w\" sizes=\"auto, (max-width: 773px) 100vw, 773px\" \/><\/a><\/p>\n<p>Bob van Dijk, Group chief executive officer, said: \u201cOur strong performance reflects the resilience and adaptability of the group and of our teams to effectively navigate challenging times.<\/p>\n<p>&#8220;We entered the pandemic with financial strength and good momentum and in the second half of the period, our businesses recovered well from the initial impact of Covid-19 and are now fundamentally stronger than they were going into the pandemic.&#8221;<\/p>\n<p>He said that the pandemic has accelerated activity in the consumer internet space, benefitting the businesses.<\/p>\n<p>&#8220;Looking ahead, we will continue to look after our people and support the communities we serve through uncertain times and we are focused on emerging well from the pandemic,&#8221; Van Dijk said.<\/p>\n<p>Several companies had stand out performances:<\/p>\n<ul>\n<li><strong>iFood<\/strong>, an online food delivery portal in S\u00e3o Paulo, Brazil, grew revenues by 234% YoY with KPIs including order frequency and order value hitting record levels.<\/li>\n<li><strong>PayU GPO<\/strong>, a fintech company that provides payment technology to online merchants, grew revenues 48% as people used cashless payment methods.<\/li>\n<li><strong>Udemy<\/strong>, a US based open online course provider aimed at professional adults and students, grew enrolments more than 400%.<\/li>\n<li><strong>BYJU\u2019S<\/strong>, an Indian based learning app and online tutoring firm, saw 180% growth in students on top of already high growth rates.<\/li>\n<\/ul>\n<p>In the Edtech space, Naspers said it stepped up its total investment to more than $1 billion and seven companies in this fast-growing sector.<\/p>\n<p>Looking ahead, Naspers said the current operating environment remains uncertain and the longer-term social and economic impact of Covid-19 is unclear. &#8220;The group is on a solid financial footing and the fundamentals of the underlying businesses are strong, with all well-positioned to build on the accelerating shift to online triggered by the pandemic.&#8221;<\/p>\n<p>&#8220;Management remains focused on value creation for shareholders through driving profitability and cash generation in the group\u2019s more-established ecommerce businesses, while investing for growth in food delivery, classifieds transactions, credit, and edtech,&#8221; it said.<\/p>\n<p>On 30 October 2020, the group announced its intention for Prosus to acquire up to $5 billion of Prosus and Naspers shares. This will be implemented by the acquisition of up to $1.4 billion Prosus N ordinary shares and $3.6 billion Naspers N ordinary shares on the market.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/449467\/naspers-invests-r45-million-in-local-online-learning-platform\/\" target=\"_blank\" rel=\"noopener noreferrer\">Naspers invests R45 million in local online learning platform<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Consumer internet company, Naspers on Monday (23 November), reported revenue growth of 32% for the six months ended September 2020, to $13 billion, boosted by growth across food delivery, etail and education.<\/p>\n","protected":false},"author":10,"featured_media":319962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5554],"tags":[26,107],"class_list":["post-450619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-media","tag-headline","tag-naspers"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/450619","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=450619"}],"version-history":[{"count":8,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/450619\/revisions"}],"predecessor-version":[{"id":450673,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/450619\/revisions\/450673"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/319962"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=450619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=450619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=450619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}