Dutch technology investor Prosus (PRX.AS) reported an 84% surge in core headline earnings for the fiscal year ending March 31, driven by robust performance in its e-commerce operations, the company announced on Monday. Core headline earnings reached $5.0 billion, up from $2.7 billion the previous year.
“Our e-commerce portfolio has achieved profitability for the first time, and our ongoing share buyback program has delivered substantial shareholder value,” stated Prosus’ interim CEO Ervin Tu.
Prosus recently appointed the CEO of its food delivery business, iFood, as its new CEO effective from July, underscoring its strategic focus on e-commerce investments. The group’s free cash flow nearly tripled year-on-year to $524 million, supported by e-commerce and strong results from its significant investment in Chinese tech giant Tencent (0700.HK).
