Prosus, a technology investor with a customer base exceeding two billion worldwide, reported a profit for the first half of the year. This marks a significant turnaround as the company sold stakes in various online businesses in China and South Africa.
For the six months ending on 30 September 2024, Prosus reported group adjusted earnings before interest and taxes (EBIT) of US$60 million, a notable improvement from a loss recorded during the same period the previous year. This information was disclosed in a statement released by the Amsterdam-based company on Monday.
In September, Prosus divested its stakes in China’s Trip.com and South Africa’s online fashion retailer, Superbalist. Additionally, the company has an agreement in place to sell its Romanian food delivery business, Tazz.
Valued at over $100 billion and listed on Euronext, Prosus is actively seeking companies that can leverage its extensive reach and utilize artificial intelligence to drive the next phase of e-commerce growth. CEO Fabricio Bloisi highlighted this strategic focus last month.
Prosus was spun off from Naspers, a Cape Town-headquartered firm recognized as one of the largest technology investors globally. The spin-off and subsequent listing in Amsterdam occurred approximately five years ago. Fabricio Bloisi, who oversees both Prosus and Naspers, is currently addressing the challenges posed by a complex business structure that had previously confounded his predecessor.
