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Prosus full-year core headline earnings jump 84%
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(Reuters) – Dutch technology investor Prosus core headline earnings jumped 84% in the year to March 31, helped by a strong performance in e-commerce operations, it said on Monday.
(Reuters) – Dutch technology investor Prosus core headline earnings jumped 84% in the year to March 31, helped by a strong performance in e-commerce operations, it said on Monday.
Its core headline earnings were $5.0 billion, compared with $2.7 billion a year earlier, the company said.
“Our e-commerce portfolio is profitable for the first time ever, and our ongoing buyback has created significant shareholder value,” said the company’s interim CEO Ervin Tu in a statement.
The company recently appointed the head of its food delivery business iFood as its new CEO effective from July.
E-commerce is one of Prosus’ main areas of investments.
The group’s free cash-flow roughly tripled year-on-year to $524 million, also helped by e-commerce and the performance of its key investment, Chinese tech giant Tencent.
(Reporting by Olivier Sorgho and Anna Peverieri; Editing by David Goodman and Louise Heavens)
E-commerce refers to the buying and selling of goods and services over the internet. It includes various online transactions and can involve both consumer-to-consumer and business-to-consumer sales.
Core headline earnings are a measure of a company's profitability that excludes certain non-recurring items. This metric provides a clearer view of ongoing operational performance.
Free cash flow is the cash generated by a company after accounting for capital expenditures. It is an important measure as it indicates the cash available for distribution to shareholders.
A buyback, or share repurchase, occurs when a company buys back its own shares from the marketplace. This can increase the value of remaining shares and is often seen as a sign of confidence in the company's future.
Shareholder value is a business term that refers to the value delivered to shareholders of a corporation. It is typically measured by the stock price and dividends paid.
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