Post by : Badri Ariffin

Dutch technology investor Prosus has announced a striking 99% increase in its adjusted core profit for the first half of its financial year, underscoring the strength of its growing digital and e-commerce portfolio. Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) reached $423 million, nearly doubling the $213 million reported in the same period last year.

Revenue also climbed 22% year-on-year, reaching $3.6 billion, fueled by robust performances across its key platforms. iFood, the online food delivery service, and OLX, the classifieds marketplace, emerged as major contributors, demonstrating strong engagement and user growth. The company reaffirmed its annual guidance, signaling confidence in its transformation strategy.

Prosus, majority-owned by South Africa’s Naspers and the largest shareholder of Chinese tech giant Tencent, has been shifting from a passive investment model to a more hands-on operator of its e-commerce businesses. Analysts note that this approach has allowed the group to leverage its portfolio assets more effectively, enhancing operational performance and revenue streams.

With continued investments in digital services and e-commerce, Prosus is positioning itself as a formidable player in the global tech landscape, aiming for long-term growth while capitalising on rising online consumption trends.

#Business News #Economic