National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

China growth sends Naspers shares to record

January 25 2013 at 08:00am
By Bloomberg

Comment on this story

Naspers posted a record close yesterday amid signs of accelerating growth in China, where the media firm generates almost 75 percent of its profit. The stock rose as much as 2.9 percent to R573.99 before closing 2.66 percent higher at R572.63. China’s manufacturing is expanding at the fastest rate in two years, according to a private survey of companies. Naspers owns 34 percent of Hong Kong-based Tencent Holdings, which contributed 73 percent of core headline earnings in the six months to September, company filings show. “There have been a number of reports from China about a pickup in growth, and analysts are starting to include that in their forecasts for the company,” Abri du Plessis at Gryphon Asset Management said. Naspers was also benefiting from a decline in the rand, Du Plessis said.– Bloomberg


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku