Naspers issues earnings warning
Group says drop in earnings of up to 15% is due partly to reduced takings from China’s Tencent
16 June 2022 - 17:54
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”...
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.