Prosus Reports Twofold Increase in Half-Year Core Profit as It Shifts Focus to E-Commerce
Strong Financial Performance: Prosus reported a 99% increase in adjusted half-year core profit, with EBITDA rising to $423 million and revenue up 22% to $3.6 billion, driven by its iFood and OLX platforms.
Strategic Acquisitions and Investments: The company is actively transforming into a hands-on operator, integrating its acquisition of Just Eat Takeaway and investing in various firms across Europe, India, and Latin America, including a $350 million investment in Rapido.
Divestiture and Cash Reserves: Prosus generated $1.2 billion from divestitures in the first half and aims for $2 billion by fiscal year-end, while maintaining $18.3 billion in cash reserves and an additional $2.5 billion in credit.
Commitment to AI Development: The company invested over $100 million in developing agentic AI models for its platforms, indicating a focus on technological advancement alongside its acquisition strategy.
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