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Naspers flags 50% drop in interim earnings amid global downturn

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The group says rising cost of living is having an impact on growth expectations and valuations

Naspers expects to report a more than 50% drop in earnings for the six months to end-September due to a global economic downturn — characterised by high inflation and interest rates — leading to reduced activity in e-commerce.

On Monday, the group said it expects to report core headline earnings per share of 228c-257c, which is up to 61.7% lower than the previous comparable period. ..A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

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