BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Prosus NV (PROSY, PROSF) reported that its fiscal year profit before tax declined to $9.5 billion from $18.6 billion, prior year. Core headline earnings was $2.5 billion, a decrease of 32%. The Group said this was primarily due to lower contributions from associates, particularly Tencent, which was impacted by Covid-19 lockdowns and new regulations in China.
For the year ended 31 March 2023, revenue increased to $5.76 billion from $5.22 billion. The increase was primarily due to strong revenue growth in iFood, and Payments and Fintech. Group revenue, measured on an economic-interest basis, grew by 7% in local currency, excluding M&A.
Separately, the board of Naspers and the board of Prosus announced that Naspers and Prosus intend to implement a proposed transaction in terms of which the cross-holding structure between Naspers and Prosus will be removed. Post-implementation, the Prosus Free-Float shareholders will, in aggregate, directly hold approximately 57% of the issued Prosus Ordinary Shares N, and Naspers will directly hold approximately 43% of the issued Prosus Ordinary Shares N.
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