Naspers records full-year revenue up 3% to $6.1bn
Sales of various assets helped the media group nearly triple its after-tax profit for the year to end March by 181%
The $3.25bn sale of Polish online auction site Allegro in October and other disposals helped Naspers nearly triple its after-tax profit for the year to end-March. The media group reported on Friday that its after-tax profit jumped 181% to $2.8bn, while overall revenue grew 3% to $6.1bn. "Significant disposals during the year, notably the Allegro business in Poland and the Czech e-commerce units Netretail and Heureka, reduced revenues," CEO Bob van Dijk said in the results statement released on Friday. Holders of its JSE-listed N shares will receive a R5.80 dividend, 11.5% higher than the prior year’s R5.20. Holders of its unlisted A shares — which are controversial because they represent the bulk of Naspers’s voting rights, but their owners are kept secret — will similarly see their dividend rise 11.5% to R1.16 from the prior year’s R1.04. "Net interest expense on borrowings was down 17% to $142m, due to lower utilisation of credit facilities and, to a lesser extent, cash retained f...
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