Naspers Fiscal Year Net Profit Jumps

By Rory GallivanFeaturesDow Jones Newswires

Africa's biggest company by market capitalization, Naspers Ltd. (NPN.JO) on Friday said strong growth in its ecommerce businesses and internet investments helped its full-year net profit nearly triple.

The internet and media giant posted net profit of $2.92 billion for the year ended March 31, up from from $994 million the previous year on revenue up to $6.1 billion from $5.93 billion.

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The Johannesburg-listed company, whose investments include stakes in Chinese internet portal Tencent Holdings Ltd. (0700.HK) and German online food delivery company Delivery Hero, said online payments and travel services performed well, though weakened African currencies were a drag.

-Write to Rory Gallivan at; Twitter: @RoryGallivan

(END) Dow Jones Newswires

June 23, 2017 09:42 ET (13:42 GMT)