Prosus group buying and selling revenue rose in H1, e-commerce losses widen By Reuters

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© Reuters. FILE PHOTO: A Prosus logo is displayed on the Amsterdam Stock Exchange building as Prosus starts trading on the Euronext Stock Exchange in Amsterdam, The Netherlands on September 11, 2019. REUTERS / Piroschka van de Wouw / file photo

AMSTERDAM (Reuters) – Prosus NV reported Monday that trading profit rose 8% to $ 2.9 billion in the first half of fiscal 2022.

There was a comparable amount of $ 2.7 billion for the same period a year ago.

On November 16, Prosus (OTC 🙂 announced that core earnings would rise 5% to 12% per share for the six months ended September 30.

Prosus announced in a press release that its “e-commerce portfolio” increased sales 53% to $ 4.2 billion, while the segment’s trading loss rose from a trading loss of $ 214 million in the same period last year to 372 Million US dollars soared.

“Ecommerce” includes a group of companies that Prosus owns in the classifieds, grocery delivery, educational technology, and fintech and payments sectors.

“In the first half of the year, our internet businesses achieved solid growth that reinforced a strong performance over the same period last year,” said CEO Bob van Dijk in a statement.

Prosus, sometimes compared to SoftBank and its Vision Fund https://www.reuters.com/business/finance/europes-softbank-prosus-plays-long-game-shrink-value-gap-2021-07-08, owns shares in a variety of consumer internet companies. His e-commerce portfolio doesn’t include his most valuable investment, a $ 175 billion stake in Tencent Holdings (OTC :), the Chinese internet gaming and social media company.

Tencent’s returns dominate Prosus’ corporate returns, and Prosus posted net income of $ 15.9 billion, up from $ 2.89 billion for the same period last year, resulting from the sale of a $ 15 billion stake in Tencent in April was increased.

In August, Prosus formed a cross-holding structure with South Africa’s Naspers, where Prosus shareholders own 60% of the company’s underlying assets, but Naspers remains in control. They share a single board.

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