In this photo illustration, a Prosus logo is seen on a smartphone and a PC screen.
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Dutch technology investor Prosus reported an 84 percent increase in core earnings within the fiscal 12 months ended March 31, driven by strong performance in its e-commerce business, it said on Monday.
Core earnings were $5.0 billion, in comparison with $2.7 billion a 12 months earlier, in accordance with the corporate.
“Our e-commerce portfolio is profitable for the first time ever and our ongoing share buyback has created significant value for shareholders,” the corporate’s interim CEO Ervin Tu said in a press release.
The company recently appointed the top of its food delivery service iFood as its recent CEO, effective July.
E-commerce is certainly one of Prosus’ principal investment areas.
The group’s free money flow has roughly tripled in comparison with the identical period last 12 months, now at $524 million, helped by e-commerce and the performance of its most significant investment, Chinese technology giant Tencent.
