# Prosus full-year core headline earnings jump 84%
Published: 2024-06-24
Category: Headlines
Category URL: https://business.express/category/headlines/
Meta Title: Prosus Reports 84% Jump in Core Earnings
Meta Description: Dutch tech investor Prosus saw an 84% leap in core earnings, driven by strong e-commerce performance. New CEO appointed for future growth.
URL: https://business.express/prosus-full-year-core-headline-earnings-jump-84/

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(Reuters) – 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.

(Reporting by Olivier Sorgho and Anna Peverieri; Editing by David Goodman and Louise Heavens)


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