Naspers expects decline in earnings on Covid-19 impact
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. ..