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Share Name Share Symbol Market Type
Prosus NV EU:PRX Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.76 1.81% 99.16 99.00 99.34 99.58 97.80 98.10 1,746,161 16:40:00

Prosus Fiscal Year 2020 Net Profit Rises; Confident for Future

29/06/2020 6:14pm

Dow Jones News


Prosus NV (EU:PRX)
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By Sabela Ojea

 

Prosus NV reported Monday a rise in net profit for fiscal 2020 and said it is confident to navigate through the effects of the coronavirus pandemic.

The Amsterdam-listed company, which was spun out of Naspers Ltd. in 2019, posted a pretax profit for the year ended March 31 of $3.79 billion compared with $4.51 billion for the same period a year earlier.

Net profit increased to $3.82 billion from $3.58 billion, while revenue reflected growth of 17%, reaching $21.5 billion.

Core headline earnings from continuing operations were $3.4 billion, rising 9%.

"Improving profitability in Tencent and the more established ecommerce businesses were partially offset by the additional investment in the food-delivery business," it said.

Regarding the final dividend for the year, the company said that the board recommends a gross payment in the form of a capital repayment of 11 European cents (12.3 U.S. cents) a share.

"While the impact [of coronavirus] is likely to persist for some time, we are confident to weather the storm. The group's focus is on safety, plus leveraging its financial flexibility to continue building a business that grows strongly, generates high rates of return and provides employment for thousands over the long term," Prosus said.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

June 29, 2020 12:59 ET (16:59 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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