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E-retail investor Naspers posts a big profit gain

E retail investor Naspers posts a big profit gain

Full-year earnings grow 30% based on its investments in Chinese Internet company Tencent and other e-commerce businesses.

(Bloomberg)–Naspers Ltd., Africa’s biggest company by market value, said full-year earnings increased 30 percent due to growth from its investment in Tencent Holdings Ltd. of China and its online retail businesses.

Adjusted net income was 11.2 billion rand ($914 million) in the year through March compared with 8.6 billion rand a year earlier, the Cape Town-based company said in a statement after the market close on Monday.

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