South Africa-headquartered Naspers (JSE:NPN) and its consumer-internet subsidiary Prosus (JSE:PRX) reported a stronger first half for the period to end-September, driven by a marked improvement in ecommerce profitability and a sharp earnings jump at local online retailer Takealot.com.

Prosus said core headline earnings per share rose nearly 25%, in the middle of earlier guidance. Adjusted ecommerce EBITDA increased 70% (58% in constant currency) to $530mn (ZAR9.2bn), with the group maintaining a full-year target of $1.1bn. Ecommerce revenue climbed 22% to $3.6bn, while core headline earnings advanced 13% (18% constant currency) to $4bn.

The group’s international portfolio—spanning Brazil’s iFood, India’s PayU and global classifieds platform OLX—continued to expand earnings. iFood delivered 32% revenue growth and a 57% increase in aEBITDA to $184mn, while OLX grew adjusted EBITDA by more than 50%. Prosus said the integration of Despegar, acquired earlier this year, had begun contributing to performance.

Prosus also closed its largest deal to date with the acquisition of Just Eat Takeaway.com, giving it access to an ecosystem reaching roughly 2bn consumers across nearly 100 companies. The group noted rising operating leverage supported by the use of more than 20,000 AI agents across its businesses.

The companies continued to benefit from their stake in Chinese tech major Tencent (HKG:0700), which accounts for around 80% of Prosus’ asset base. Naspers now holds 22.8% after marginal selldowns that funded share buybacks. Tencent’s contribution to Prosus’ equity-accounted earnings rose 25%, and dividends received increased to $1.2bn from $1bn a year earlier.

In South Africa, Naspers-owned Takealot.com posted a 16% increase in gross merchandise value, while adjusted EBITDA surged 87% to $28mn (ZAR486mn)—a move the group described as a “step change”. Other South African assets, including AutoTrader and Property24, continued rolling out new AI-powered tools to deepen user engagement.

Prosus shares rose 0.5% in early Johannesburg trading, while Naspers gained 1% to ZAR1173, extending its 45% rise this year.

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