Huge profits rise for Multichoice owner
June 18, 2018
By Chris Forrester
Except to say that the profit rise has not come from Multichoice, but from owner Naspers and its hugely valuable stake in Chinese Internet giant Tencent.
Cape Town-based Naspers, already Africa’s biggest company, says that its core headline earnings will rise by 70-75 per cent when it unveils its full year results on June 22nd.
Naspers owns 31 per cent of Tencent, and the news pushed its share value on the Johannesburg stock exchange to a thumping $113 billion (1.5 Trillion Rand), having added 1.2 per cent on June 15th.