Prosus N : and Naspers post record revenues as internet investments pay off
June 21, 2021 at 02:41 am EDT
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Technology investor Prosus today posted its strongest annual performance to date, with revenues soaring by a third to $28.8bn.
Prosus, which is controlled by South African company Naspers, said the record revenues were driven by strong returns at its stake in Chinese internet giant Tencent.
The group also doubled its e-commerce portfolio value to $39bn throughout the year, while pushing its trading profit up by 44 per cent to $5.6bn.
“In a year of extreme global challenge, we have delivered our strongest results to date and accelerated growth right across out consumer portfolio,” said Bob van Dijk, group CEO of Prosus and Naspers.
“Today, our businesses are fundamentally stronger than they were going into the pandemic and are very well positioned going forward.”
It comes as Naspers, which holds a 73.2 per cent stake in Prosus, also reported record annual revenues, surging 32 per cent higher to $29.6bn.
Naspers also saw its trading profit jump by 45 per cent to $5.6bn, while its e-commerce value almost doubled to $39bn.
“We have delivered our strongest results since the listing of Naspers and subsequent listing of Prosus,” said Basil Sgourdos, group CFO of Prosus and Naspers.
“Since the start of the year, we have invested around $7bn to expand our ecosystems and become even more useful to our customers.”
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Prosus N.V. is a holding company in the service of the global Internet consumer group (Naspers). Net sales (including intragroup) by activity break down as follows:
- management of social platforms and digital content (69.1%): via Tencent and VK;
- operation of Internet platforms (30.9%): primarily through the classified ad (OLX, Avito, etgo, etc.), mobile and electronic payment (PayU), e-commerce (eMAG), online food ordering and delivery (Delivery Hero, Swiggy and iFood) and online education (Stack Overflow, Skillsoft and GoodHabitz) platforms.
Net sales are distributed geographically as follows: Europe (49.1%), Latin America (39.1%), Asia (9.2%), North America (1.5%) and other (1.1%).