Naspers South Africa’s profit doubles on Tencent’s e-commerce performance

(Reuters) – South Africa’s Naspers said on Monday its full-year profits more than doubled, boosted by improved performance from its e-commerce business and contributions from China’s Tencent, which accounts for the majority of profits and revenue.

The technology investor said its core earnings per share – a key indicator of operating performance in South Africa – from continuing operations rose to 1,148 US cents for the year ended March 31 from an adjusted 546 cents a year ago.

(Reporting by Nqobile Dludla and Prerna Bedi; Editing by Rashmi Aich)