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Prosus and Naspers Report Significant Profit Growth on E-commerce and Tencent Performance
Prosus NV reported an 89.5% increase in core headline earnings for the first half of the year, driven by strong e-commerce growth and contributions from Tencent.
Prosus NV, the Dutch technology investor, has reported a significant 89.5% increase in its core headline earnings for the first half of the year. This impressive growth is attributed to the accelerated performance and improved profitability of its e-commerce businesses, as well as substantial contributions from China's Tencent. Prosus, which is majority-owned by South Africa's Naspers, saw its core headline earnings per share (HEPS) from continuing operations rise to 144 U.S. cents for the six months ending September 30, up from 76 U.S. cents in the previous year.
The Amsterdam-listed investment group, which focuses on consumer internet companies, also reported a rise in group revenue from continuing operations to $2.96 billion, compared to $2.56 billion in the same period last year. E-commerce revenue alone rose by 16% to $3.0 billion, and adjusted earnings before interest and taxes swung to a profit of $181 million. Prosus expects to maintain organic growth above 20% and aims for $400 million in adjusted earnings before interest and taxes from its e-commerce operations for fiscal 2025.
Naspers, the South African technology investor and majority owner of Prosus, also reported a 90.5% jump in its half-year core headline earnings. This growth was similarly driven by the strong performance of its e-commerce businesses and contributions from Tencent. Naspers' core headline earnings per share for continuing operations rose to 865 U.S. cents, up from 454 U.S. cents.
Both Prosus and Naspers are benefiting from strategic investments and a focus on generating returns for shareholders, with Prosus planning to create an additional $100 billion of value through strategic investments.
Articles published about this story
- reuters.comreuters.com
- marketscreener.commarketscreener.com
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