Naspers Limited (NPSNY) reported a strong set of results for HY2023 with ecommerce revenues up 38% to US$5.6bn and group revenue up 9% to US$17bn. However, trading profit saw a significant decline of 38% to US$1.4bn, and core headline earnings decreased by 51% to US$327m. The company emphasized its ongoing organic investment in high-potential businesses and continues to buy back shares to enhance net asset value. Naspers targets profitability in its ecommerce portfolio by H1 FY2025.
Naspers Limited (NPN) addresses recent speculative claims regarding a potential sale of its Tencent shares to a CITIC-led group, labeling the article as untrue. Naspers continues its share repurchase program initiated in June 2022, funded by orderly sales of Tencent shares. The board maintains confidence in Tencent's long-term prospects, asserting that the repurchase is in the best interests of shareholders. Established in 1915, Naspers is a major player in global consumer internet investments, focusing on technology sectors in South Africa.
Naspers' subsidiary, Prosus, has entered an agreement to sell the Avito Group for RUB 151 billion. This move follows their intention to divest from Russian classifieds businesses, initially announced in 2022. The transaction will close in October 2022 and involves subsidiaries under Prosus. Avito Group's net asset value was USD 1.38 billion with profits of USD 160.3 million reported as of March 31, 2022. Proceeds from this sale will be used for corporate purposes. This transaction is classified as a category 2 transaction according to JSE Listings Requirements.
Naspers Limited held its 108th annual general meeting electronically, with all resolutions passed by shareholders. Notably, the company reported a 24% increase in group revenues to US$37 billion, despite a 10% decline in trading profit to US$5 billion. Core headline earnings dropped 40% to US$2.1 billion, affected by the sale of a 2% interest in Tencent. The board confirmed a dividend to be paid on October 10, 2022, with the final amount to be announced on September 27, 2022. The group focuses on sustainable growth through investments in various sectors, including ecommerce and fintech.
Naspers, through its subsidiary Prosus, has announced the acquisition of the remaining 33.3% stake in iFood from Just Eat for €1.5bn in cash, plus a contingent consideration of up to €300m. This move solidifies Prosus and Movile’s complete ownership of iFood, which has grown into a leading platform in Brazil's food delivery sector, facilitating 70 million orders monthly. The acquisition reflects Prosus's commitment to long-term investment and confidence in iFood's growth potential, particularly in expanding its services across grocery and fintech.
Prosus announced the acquisition of the remaining 33.3% stake in iFood from Just Eat Holding Limited for €1.5bn in cash, plus up to €300m contingent consideration. This acquisition will grant Prosus and Movile full ownership of iFood, an industry leader in Brazil's food delivery sector. iFood delivers around 70 million orders monthly, serving 330,000 restaurant partners and 200,000 delivery partners. The acquisition reflects Prosus's confidence in iFood's growth potential and its commitment to expanding in the Brazilian market.
Naspers Limited (LSE: NPSN) reported robust financial results for the fiscal year ending 31 March 2022, highlighting a 24% revenue increase to US$36.7 billion and an impressive 49% growth in ecommerce revenue to US$10.7 billion. The group initiated an open-ended share repurchase program funded by selling Tencent shares, aimed at unlocking value for shareholders. However, overall trading profit fell 6% to US$5 billion, and core headline earnings decreased 16% to US$2.1 billion, reflecting higher investment costs and reduced contributions from Tencent.
Naspers Limited announced that Tencent declared a special interim dividend in the form of a distribution of JD.com shares. Prosus N.V., majority-owned by Naspers, received 131,873,028 JD.com shares, amounting to a 4% interest. Following the distribution, Prosus executed an orderly market disposal of these shares, concluding on June 24, 2022, generating proceeds of approximately US$3.67 billion. The carrying value of the JD.com shares, as of March 31, 2022, was around US$3.94 billion, with zero profit after tax for the fiscal year ending on that date.
Naspers Limited (NPSNY) reported impressive results for the half-year ending September 30, 2021, with ecommerce revenues soaring 52% to US$4.6 billion. Trading profit increased by 9% to US$2.9 billion, while core headline earnings decreased by 4% to US$1.5 billion. The company's ecommerce portfolio valuation rose to approximately US$50 billion, driven by strong growth in segments such as Food Delivery, Edtech, Payments, and Classifieds. Naspers invested US$5.2 billion in its internet businesses, alongside a US$5 billion share-repurchase program to enhance shareholder returns.