Internet giant Naspers records “strongest” performance in FY2021

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Naspers
Naspers

South Africa’s internet giant Naspers on Monday said its revenues and trading profit were “at record levels” in fiscal year 2021 that ended March 31 and the group delivered “strongest results to date.”

Naspers, a global internet group and one of the largest technology investors in the world, invests in the world’s leading internet companies such as China’s Tencent through its Prosus group.

The group revenues reached 29.6 billion U.S. dollars during fiscal year 2021, increasing by 32 percent compared to the previous year, and trading profit reached 5.6 billion dollars, representing a 45 percent year-on-year increase, it said in a statement.

It registered 28 percent revenue growth at Tencent, according to the statement.

Naspers’ e-commerce portfolio’s value almost doubled in a year to 39 billion dollars and recorded a 55 percent of growth in revenues from 4.7 billion dollars in fiscal year 2020 to 6.8 billion dollars in fiscal year 2021, said the statement.

The group continued to invest and innovate, expanding the ecommerce portfolio platforms to provide broader product and service offerings to customers, including offering pay and ship in large classifieds markets as well as extending its food delivery businesses into grocery and convenience delivery, said the statement, adding that it sees “huge potential” to play an increasingly valuable role in people’s everyday lives in this way.

“Our strategy to reposition the group for an increasingly online world meant we were well prepared for the acceleration of online adoption through the pandemic,” Group CEO Bob van Dijk said in the statement.

The group sold a 2 percent stake in Tencent post year-end and the 14.6 billion dollars’ proceeds create added financial flexibility for the group to invest in new opportunities to sustain the strong growth and returns embedded in its ecommerce portfolio, according to Basil Sgourdos, Naspers financial director and executive director. Enditem

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