Prosus’ half-year core profit nearly doubles amid e-commerce pivot

Nov 24 (Reuters) – Dutch technology investor Prosus on Monday reported a 99% surge in its adjusted core profit, driven by strong performances across its digital services and e-commerce portfolio.

The group’s adjusted earnings before interest, taxes, depreciation and amortisation rose to $423 million in the first half of its financial year, from $213 million in the same period last year.

It reported a 22% rise in first-half revenue to $3.6 billion, citing strong performances particularly from its iFood and OLX platforms, and confirmed its annual guidance.

The group, majority-owned by South Africa’s Naspers and the biggest shareholder of Chinese tech giant Tencent  is carrying out a major transformation from a passive investment firm into a hands-on operator of its e-commerce assets.