Skip to Content
Global News Select

Naspers, Prosus Fiscal Year 2021 Net Profit Rose

By Adria Calatayud

 

Naspers Ltd. and its Amsterdam-listed subsidiary Prosus NV said Monday that net profit for fiscal 2021 rose, driven by a growing contribution from their Tencent Holdings Ltd. investment and improved profitability from ecommerce assets.

South African investor Naspers--which owns a major stake in Chinese tech giant Tencent through Prosus--said net profit for the year to March 31 was $5.30 billion compared with $3.10 billion for fiscal 2020.

Naspers said core headline earnings per share were $8.14 compared with $6.56 a year earlier. The company had guided for core headline EPS to come in at between $7.91 and $8.37.

Revenue rose to $5.93 billion from $4.00 billion in fiscal 2020.

Naspers previously said the financial results of Prosus almost completely account for the group's performance.

Prosus separately reported a net profit that nearly doubled to $7.45 billion on revenue that grew 54% to $5.12 billion. Prosus core headline EPS rose 44% to $2.99, in line with its guidance of an increase of between 41% and 48%.

"Today, our businesses are fundamentally stronger than they were going into the pandemic and are very well positioned going forward," Naspers and Prosus Chief Executive Bob van Dijk said.

 

Write to Adria Calatayud at adria.calatayud@dowjones.com

 

(END) Dow Jones Newswires

June 21, 2021 02:35 ET (06:35 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

We’d like to share more about how we work and what drives our day-to-day business.

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

How we use your information depends on the product and service that you use and your relationship with us. We may use it to:

  • Verify your identity, personalize the content you receive, or create and administer your account.
  • Provide specific products and services to you, such as portfolio management or data aggregation.
  • Develop and improve features of our offerings.
  • Gear advertisements and other marketing efforts towards your interests.

To learn more about how we handle and protect your data, visit our privacy center.

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.