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 email@example.com
(END) Dow Jones Newswires