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Naspers reports 6% increase in interim results

By Shanna | November 27, 2009

In a statement released yesterday, Naspers reported a 6% increase in revenue to R13.5 billion for the six months ended 30 September 2009. Operating profit grew by 19% to R2.8 billion and core headline earnings were up to R2.4 billion, or R6,48 per share, an increase of 37% on the previous year.

Ton Vosloo, Naspers chairman, stated, “Most operations performed satisfactory, despite challenging economic conditions.” He continued; “The contributions from our associates are valuable.” Naspers’ share of income from associates, including Tencent in China, Mail.ru in Russia and Abril in Brazil, amounted to R872 million, more than double the contribution compared to the same period last year. Hopes for future growth are now being pinned on the company’s online business.

Meanwhile, Naspers Chief Executive Officer Koos Bekker said he has more than $600 million at his disposal, and is looking for acquisitions in Southeast Asia, in the hope of improving the company’s presence there.

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