Shares in Naspers rose on Thursday morning, even as its main investment, Tencent of which Naspers owns 31%, fell in Hong Kong, after the Cape Town-based internet giant said earnings in the year to end-March grew by up to a third.

Naspers said after the market’s close on Wednesday that core headline earnings per share (HEPS) from total operations, a metric that strips out non-operational items, increased by between 31% and 33%...

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