JSE-listed consumer internet giant Naspers reports growth in its e-commerce businesses. FinancialResults Media24 Prosus Takealot MrD
The company today posted full-year financial results for 2023.
Overall, it notes, growth in consolidated e-commerce revenue was 15%, with strong growth in the core segments partially offset by a decline in the group’s consolidated e-tail business. “There is much more to do, but we are on a good trajectory, we have strong momentum and remain confident in our commitment to achieve profitability in our e-commerce portfolio during the first half of 2025.”
Naspers and Prosus will waive their rights to participate in the respective capitalisation issue of new Prosus or Naspers shares. “Naspers is on a firm footing to deliver continued value for shareholders. Our e-commerce businesses are scaling at pace, with sustained revenue growth well ahead of our peers,” says Basil Sgourdos, group CFO of Prosus and Naspers.
Trading losses in H2 decreased by 43% from H1, says the company, adding the established businesses are all profitable and these losses are a result of targeted investment in high-growth earlier stage initiatives, such as quick commerce and grocery delivery, credit and innovation in its edtech segment.
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