ADVERTISEMENT

South African tech giant records 6% increase in revenue thanks to Tencent stake

Naspers, in its full-year results, reported that its core headline earnings are up 21% to $1.2 billion and that 77% of its revenues were generated outside South Africa.

Bob Van Dijk, CEO Naspers

Media reports say Chinese tech giant Tencent, along with e-commerce businesses, have helped increase South African tech giant, Naspers', revenues by 6% to $12.2 billion for the financial year ended March 31, 2016.

Naspers, in its full-year  results, reported that its core headline earnings are up 21% to $1.2 billion and that 77% of its revenues were generated outside South Africa. Not bad.

Another key component of the Naspers empire is its 34% stake in Chinese internet giant Tencent. For the year ended December 31, 2015, Tencent posted 30% annual growth .

ADVERTISEMENT

Also, Naspers' stake in Russian email service, Mail.ru, also brought about positive results as the business unit's revenue for the year ended December 2015 rose 11%.

“Our e-commerce businesses benefit both from the continued growth of existing businesses and investments in new models,” said Bob Van Dijk, CEO of Naspers.

However, it is not all rosy for the company. Its video entertainment revenues were down 11% year-on-year, due to weaker African currencies even though the South African base of its video entertainment business increased by 325,000 subscribers.

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Lagos postpones eagerly anticipated Easter boat regatta indefinitely

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Third Mainland Bridge reopens in 1 week, formal ceremony later - Minister

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Sanwo-Olu opens 'Sunday market' on Good Friday for Easter shopping

Wike thanks Tinubu for the opportunity to serve

Wike thanks Tinubu for the opportunity to serve

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Tinubu’s aide distributes food items to 1,750 persons in FCT, Kwara

Court grants senator accused of forging NYSC certificate ₦50m bail

Court grants senator accused of forging NYSC certificate ₦50m bail

BREAKING: Delta monarch declared wanted by military surrenders to police

BREAKING: Delta monarch declared wanted by military surrenders to police

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Renowned Canada-based Nigerian playwright, Oguntokun is dead

Kaduna Gov grants scholarship to 137 rescued schoolchildren, son of late teacher

Kaduna Gov grants scholarship to 137 rescued schoolchildren, son of late teacher

Pulse Sports

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

Nigeria vs Mali: Has Finidi George done enough to land Super Eagles job permanently?

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

I want to emulate Keshi and win the AFCON - Finidi George shares ambitious Super Eagles dream

Michelle Alozie: I had to do it because of African referees

Michelle Alozie: I had to do it because of African referees

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

AC Milan star reveals he was named after Super Eagles legend Tijani Babangida

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Give him the job! Super Eagles fans beg NFF to make Finidi George permanent coach after Nigeria's win over Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

Super Eagles 2-1 Black Stars: Nigerians praise Iwobi, Lookman, Finidi George after friendly victory against Ghana

ADVERTISEMENT
ADVERTISEMENT