Naspers H1 Trading Profit Declines On Economic Interest Basis; Revenue Up 9%

Naspers Limited (NPSN.L) reported that, on an economic interest basis, first-half trading profit was $1.4 billion, down 38% from last year. Core headline earnings were down 51% to $372 million. On an economic interest basis, revenues were $17 billion, up 9%. Ecommerce revenue up 38%, driven by a strong operating performance across all four core segments.

On a consolidated basis, trading loss was $557 million compared to $338 million, previous year. Consolidated revenues were $3.7 billion, an increase of 29%.

Basil Sgourdos, Group CFO, Prosus and Naspers, said: "Our strong balance sheet and significant liquidity is a key advantage in the current climate; we will remain disciplined on M&A and committed to maintaining our investment grade rating."

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