Categories: News

Prosus’ e-commerce soaring in performance

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Staff Writer

Johannesburg | Prosus reported that its revenue increased significantly as a result of its e-commerce unit, which increased its income by nearly a third in the six months ending September. According to Prosus, its ecommerce unit revenue increased by 60% to $4.2 billion (R66.1 billion) during the same period. 

  • Prosus reported that its revenue increased significantly as a result of its e-commerce unit, which increased its income by nearly a third in the six months ending September.
  • According to Prosus, its ecommerce unit revenue increased by 60% to $4.2 billion (R66.1 billion) during the same period.
  • Prosus is a Dutch multinational conglomerate that serves as the international Internet assets division of the South African conglomerate Naspers.
  • Prosus reported that its group revenue increased by 31% to $16.6 billion (R260.6 billion) in September, with its e-commerce unit performing the best.
  • Prosus ended the period with $3 billion in net cash and stated that it will continue to invest in its platforms and ecosystems, particularly in car transactions, credit and digital banking, and food and grocery delivery.

Prosus is a Dutch multinational conglomerate that serves as the international Internet assets division of the South African conglomerate Naspers. The global investment group is one of the world’s largest technology investors and the largest internet company in Europe. Naspers Limited, its parent company, is a South African multinational holding company headquartered in Cape Town.

Prosus reported that its group revenue increased by 31% to $16.6 billion (R260.6 billion) in September, with its e-commerce unit performing the best. Food delivery, online payments, classifieds, and educational software are all part of Prosus’ e-commerce segment. According to the multinational conglomerate, this portfolio has increased to around $50 billion (R800 billion) from $13 billion (R200 billion) five years ago.

“We are amplifying that with a larger role in transactions. For example, OLX Autos is merging online and offline car buying and finance to build the most trusted one-stop shop for transacting in cars,” Prosus said 

Prosus owns a valuable 29 percent stake in Chinese conglomerate Tencent, and the company reported that dividends from Tencent increased by nearly a quarter to $571 million. It also has a 98 percent stake in PAYU, a fintech subsidiary, and OLX, an ecommerce company.

Prosus ended the period with $3 billion in net cash and stated that it will continue to invest in its platforms and ecosystems, particularly in car transactions, credit and digital banking, and food and grocery delivery.The group’s shares seem to have risen about 4.1% since November 16, when it released a trading update.

Staff Writer

Published by
Staff Writer