Naspers, Africa’s largest company, reported an increase in revenue of 17 percent to R73 billion for the year.
It’s before tax profits increased from R9.4 billion to R 17.7 billion.
Naspers will increase dividend payments by 11 percent.
Chinese internet behemoth Tencent – of which Naspers owns 34 percent – grew its revenue by 40 percent to R47 billion while trading profits increased 67 percent to R17.9 billion.
The Money Show presenter Bruce Whitfield interviewed Naspers CEO Bob van Dijk.
Scroll down to listen to the audio.
We are building a significant business outside of Tencent. OLX with 250 million users is one huge example. We’re building for the long-term and looking at populous markets such as India, Nigeria, Turkey and Brazil.— Bob van Dijk, Naspers CEO
This article first appeared on 702 : Is Naspers too dependent on Tencent?