Naspers expects decline in earnings on Covid-19 impact
18 June 2020 - 20:09
Naspers, Africa’s biggest company by market value, flagged a decline of as much as 16% in annual earnings on Thursday, citing a lower contribution from its global internet arm.
Naspers sold about a third of Prosus, the global internet business that houses the company’s valuable stake in Chinese money-spinner Tencent, in an Amsterdam stock market flotation. It was part of CEO Bob van Dijk’s efforts to release value trapped in a valuation gap between the sum of its parts and its market capitalisation. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.