Prosus full-year core headline earnings jump 84%

In this photo illustration a Prosus logo is seen on a smartphone and a pc screen.

Sopa Images | Lightrocket | Getty Images

Dutch technology investor Prosus core headline earnings jumped 84% in the year to March 31, helped by a strong performance in e-commerce operations, it said on Monday.

Its core headline earnings were $5.0 billion, compared with $2.7 billion a year earlier, the company said.

“Our e-commerce portfolio is profitable for the first time ever, and our ongoing buyback has created significant shareholder value,” said the company’s interim CEO Ervin Tu in a statement.

The company recently appointed the head of its food delivery business iFood as its new CEO effective from July.

E-commerce is one of Prosus’ main areas of investments.

The group’s free cash-flow roughly tripled year-on-year to $524 million, also helped by e-commerce and the performance of its key investment, Chinese tech giant Tencent.

Source link

Share with your friends!

Leave a Reply

Your email address will not be published. Required fields are marked *

Get The Best Financial Tips
Straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.