Investors weigh Naspers earnings against NAV

The latest interim results from Naspers again show that investors are valuing and investing in Naspers for only one reason – to benefit from the value of the group’s stake in Tencent. History has shown a strong correlation between the Naspers share price and Tencent’s fortunes and setbacks, and that operating results from the different operating divisions come second.

“Focus was on improved profitability in the core restaurant food delivery businesses, as well as controlled investment in growth extensions, such as quick commerce and grocery initiatives.” An attempt to pacify While putting a positive spin on the results, Van Dijk and CFO Basil Sgourdos also made some comments that can be seen as an attempt to pacify shareholders that the group’s host of new investments are close to turning the corner and will start to deliver returns soon.

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