UPDATE 1-South Africa's Naspers reports 65 pct jump in H1 profit

  • Reuters
  • Stock Market News
UPDATE 1-South Africa's Naspers reports 65 pct jump in H1 profit
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JOHANNESBURG, Nov 29 (Reuters) - Africa's biggest company by market value, Naspers NPNJn.J , reported a 65 percent jump in first-half profit on Wednesday, boosted by internet businesses that include the largest stake in China's Tencent Holdings 0700.HK .

Cape Town-based Naspers, which owns about a third of the Chinese internet company, said headline earnings rose to $1.5 billion, or 350 cents per share, from $914 million, or 212 cents per share.

Headline earnings per share (EPS) is Naspers' main profit measure that strips out non-operational and one-off items.

Its internet division contributed 77 percent of Naspers' revenue, up from 72 percent a year earlier.

"Robust growth saw internet revenues increasing 42 percent year on year to $6.9 billion," the company said.

"Boosted by classifieds and another exceptional performance by Tencent, trading profit for the internet segment was $1.8 billion up 47 percent year on year," it said.

The share price of Naspers, which also has stakes in Germany's Delivery Hero DHER.DE , Russia's Mail.ru MAILRq.L and India's Flipkart IPO-FLPK.N , has doubled this year buoyed by Tencent's sharp climb.

Naspers shares were up 0.3 percent at 3,790 rand at 1324 GMT versus a 0.5 percent rise in the JSE's benchmark Top 40 index .JTOPI .

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