June 29, 2020 / 5:30 PM / 10 days ago

Naspers posts 4.5% drop in full-year profit

JOHANNESBURG (Reuters) - South African media and e-commerce group Naspers reported a 4.5% drop in profit for the year to March 31, mainly on investments to drive growth in its food delivery business.

Core headline earnings per share (HEPS) - the main profit measure in South Africa - fell to $6.57 from $6.87 a year earlier, it said on Monday. The company had estimated that HEPS would drop by 10-16%.

The results were announced after the stock market closed with the technology giant’s shares up 0.3%.

Reporting by Promit Mukherjee; Editing by David Goodman

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