Naspers Delivers Solid Results for the Twelve Months Ended 31 March 2020
Group highlights for the period
*Naspers owns 72.5% of Prosus.
Basil Sgourdos, Group Chief Financial Officer, said:
Bob van Dijk, Group Chief Executive Officer, said:
In recent months, Covid-19 has had a marked impact on the daily lives of citizens and economies across the world. From the start, we have prioritised the health and well-being of our people, their families, and the communities we serve. We are working hard to protect our businesses for the long term. At both a group and a local company level, we have also provided support to governments and communities to play our part in the response to the pandemic. While the global societal and economic impacts of Covid-19 are likely to persist for some time, we are con?dent of our ability to weather the storm. We also expect that group businesses are likely to benefit from a further acceleration of the underlying trend toward online - brought about by the Covid-19 pandemic - to emerge well-placed for long-term growth."
Koos Bekker, Group Chair said:
Phuthi Mahanyele-Dabengwa, CEO South Africa, Naspers said:
Naspers Labs, our youth social impact pilot programme, has also made good progress. With four labs now established, more than 2,000 young people have completed their programme. Some 50% of graduates achieved employment placements so far.
I am also proud that we have been able to play a part in the country's fight against Covid-19, through securing over R1 billion of much needed Personal Protective Equipment (PPE) for South Africa's front-line healthcare workers, in addition to a R500 million donation to the Solidarity Fund."
NOTES on the numbers:
The complete results are available at www.naspers.com/investors
Looking ahead: navigating uncertain times
In South Africa, Naspers is one of the foremost investors in the technology sector and is committed to building its internet and ecommerce companies in the country. These include Takealot, Mr D Food, Superbalist, OLX, Autotrader, Property24 and PayU, in addition to Media24, South Africa's leading print and digital media business.
Naspers is also focused on stimulating South Africa's local tech sector through Naspers Foundry. This is a R1.4 billion investment targeting early stage technology companies in South Africa that seek to address big societal needs. To help address youth unemployment in impoverished communities, in 2019, Naspers launched Naspers Labs, a social impact programme for young, unemployed South Africans aged between 17 and 25. Located in low income, urban settings, Naspers Labs provide a structured development journey enabling young people to enter the economy.
Naspers has a primary listing on the Johannesburg Stock Exchange (NPN.SJ) and a secondary listing on the A2X Exchange (NPN.AJ) in South Africa, and has an ADR listing on the London Stock Exchange (LSE: NPSN).
After year-end, in May 2020, Naspers Foundry invested a further R100 million in Aerobotics, an agritech company that provides tree crop health and yield intelligence data to the agricultural industry using drone and satellite-enabled AI technology.
Response to COVID-19 and floods in South Africa
At the start of the financial year, in April 2019, Naspers donated R1 million in support of disaster relief and recovery efforts, following the devastating floods in Kwa-Zulu Natal.
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