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Net 1 shares jump in JSE after results

Companies

Johannesburg - Net 1 UEPS Technologies, the South African payment processor also listed on the Nasdaq, jumps nearly 18 percent after its second-quarter earnings more than doubled.

Net 1's dollar denominated fundamental earnings per share rose 122 percent in the three months to end-December, and ballooned 163 percent in the terms of the South African rand currency.

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The company's revenue grew 23 percent after better airtime sales and more lending.

Net 1 shares are up 17.65 percent at 100 rand, compared with a 0.4 percent rise in the All-share index. - Reuters

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