Naspers CEO Bob van Dijk. Picture: SUNDAY TIMES
Naspers CEO Bob van Dijk. Picture: SUNDAY TIMES

Naspers has reported a 29% rise in full year revenue to $19bn, it said on Friday.

Trading profit for Naspers grew 22% to $3.3bn, with core headline earnings growing 26% to $3bn. 

Naspers Group CEO Bob van Dijk said "the listing and unbundling of MultiChoice Group unlocked around $4bn of value for Naspers shareholders, and virtually all group revenues are now generated from online activities".

Naspers unbundled pay-TV operator MultiChoice early in the year. The company subsequently listed on the JSE in February. 

Internet revenues were up 18% to $18.7bn while trading profits rose 11% as many e-commerce units accelerated their profitability and Tencent delivered a stable performance.

Overall e-commerce revenue was up 10% to $3.9bn, with significant contributions from classifieds, food delivery, payments and fintech, and e-tail.

Naspers invested $3.1bn to accelerate growth and provide further scale to several existing and new businesses.

"Looking ahead, we will continue to drive profitability in our established e-commerce segments while selectively investing in earlier-stage opportunities," Van Dijk said.

He said the group will also "improve the competitiveness of our platforms by continuing to invest in tech and product and reinforce our artificial intelligence (AI) capabilities."

Also on Friday, Naspers announced that it had postponed the listing of its new internet group, Prosus, to September after an error with the posting of its circular to shareholders.

Prosus will house Naspers internet interests outside of SA and including investments in online classifieds, food delivery, payments and fintech, e-tail, travel, education and social and internet platforms, among others.

gavazam@businesslive.co.za