Naspers chasing e-commerce profit even after earnings fall on lower Tencent contribution
Annual profit almost halves after Covid lockdowns and macroeconomic uncertainty hit Chinese firm
27 June 2023 - 09:18
UPDATED 27 June 2023 - 18:24
With less than two years to go before Naspers’ portfolio — without China’s Tencent — is expected to start making money, loss is still the order of the day. The group’s determination to achieve consolidated e-commerce profitability by the first half of the 2025 financial year remains unfazed.
The annual profit of global internet and media company Naspers almost halved because of lower contributions from Tencent, which was hit by Covid-19 lockdowns in China and geopolitical and macroeconomic uncertainty...
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