Earnings

Prosus full-year core headline earnings jump 84%

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

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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.

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