Naspers issues earnings warning
Group says drop in earnings of up to 15% is due partly to reduced takings from China’s Tencent
Africa’s largest listed investment group, Naspers, says it expects to report a drop in earnings of up to 15% due to continued investment in its portfolio of e-commerce businesses and reduced takings from China’s Tencent. This comes in a period where the group’s stock has been battered by regulators in Asia and it has had to exit operations in Russia.
Naspers said in a year “marked with continued global turmoil and uncertainty, which has made for a turbulent operating environment”, the period “was a year of progress”...