Prosus Fiscal Year 2020 Net Profit Rises; Confident for Future
June 29 2020 - 1:14PM
Dow Jones News
By Sabela Ojea
Prosus NV reported Monday a rise in net profit for fiscal 2020
and said it is confident to navigate through the effects of the
coronavirus pandemic.
The Amsterdam-listed company, which was spun out of Naspers Ltd.
in 2019, posted a pretax profit for the year ended March 31 of
$3.79 billion compared with $4.51 billion for the same period a
year earlier.
Net profit increased to $3.82 billion from $3.58 billion, while
revenue reflected growth of 17%, reaching $21.5 billion.
Core headline earnings from continuing operations were $3.4
billion, rising 9%.
"Improving profitability in Tencent and the more established
ecommerce businesses were partially offset by the additional
investment in the food-delivery business," it said.
Regarding the final dividend for the year, the company said that
the board recommends a gross payment in the form of a capital
repayment of 11 European cents (12.3 U.S. cents) a share.
"While the impact [of coronavirus] is likely to persist for some
time, we are confident to weather the storm. The group's focus is
on safety, plus leveraging its financial flexibility to continue
building a business that grows strongly, generates high rates of
return and provides employment for thousands over the long term,"
Prosus said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
June 29, 2020 12:59 ET (16:59 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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