BUSINESS MAVERICK: Prosus delivers sterling results, but concerns remain around capital allocation and management incentives

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 84%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

‘Leave us alone and we will prove ourselves worthy.’ This has been the strategy of Prosus and Naspers management for the longest time. But it has worn thin as issues such as executive remuneration, the share price discount and the latest share swap scheme rose up. But nothing sweetens prospects for investors as much as good results, and the latest results are superb. Will this be a balm for investors?

Internet company Prosus reported group revenues of $28.8-billion, up 33% thanks to particularly strong growth in food delivery and e-tai, a trading profit of $5.6-billion, up 44%, and core headline earnings of $4.9-billion, up 39% for its financial year to the end of March.

Using the platform created by iFood, Swiggy and Delivery Hero, among others, the firms plan to build a broader on-demand delivery ecosystem that will go beyond restaurant delivery to grocery and convenience delivery and increased logistics capabilities. The Payments & Fintech segment reported strong financial results for the year with total payment value increasing by 51% to $55-billion, supported by a 38% increase in the number of transactions. The core business, PayU, was profitable for the third year running.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

PwC’s new strategy to grow revenue includes ESG investmentPwC Africa CEO Dion Shango says the top priority is to deliver quality across the group’s businesses 🔒 A great platform that can make everybody smile, for my first time hearing about making money online, I thought is fake but when I try it I realize that is real so I won't keep silent I need everyone to smile like me, JAmSRcharD
La source: BDliveSA - 🏆 12. / 63 Lire la suite »