By Ian Walker


Naspers said a key profit figure nearly doubled, while its ecommerce business swung to profit six months ahead of target.

The South African investor--which owns a stake in Chinese tech giant Tencent Holdings through Prosus--said Monday that core headline earnings from continuing operations rose to $2.1 billion for the year ended March 31 compared with $1.1 billion for the comparable period a year earlier.

Ecommerce profit for the year was $24 million compared with a loss of $436 million.

Group revenue for the year rose to $6.4 billion from $6.0 billion.

"Our strong and flexible balance sheet, active portfolio management and disciplined capital allocation put us in strong position to deliver against our long-term strategy," Prosus and Naspers Chief Financial Officer Basil Sgourdos said,


Write to Ian Walker at ian.walker@wsj.com


(END) Dow Jones Newswires

06-24-24 0224ET