A Prosus flag is displayed ahead of the trading debut of the new Prosus unit of Naspers, outside the Amsterdam Stock Exchange on September 11. Picture: BLOOMBERG/JASPER JUINEN.
Prosus CEO Bob van Dijk would beg to differ. The acquisition of Just Eat offers an, unlikely to be repeated, opportunity to establish a near-unassailable position in the global online food delivery business. “In terms of opportunity, the food space is very, very, very large,” Van Dijk told journalists recently, adding with typical hi-tech hyperbole, “It’s probably the largest opportunity I’ve run into in my lifetime.
The good news for Prosus’s shareholders is that Just Eat, which works with about 100,000 restaurants globally of which nearly 30,000 are in the UK, offers the considerable advantage of being a profit generator; for the six months to end-June it reported pretax profit of £800,000 on revenue of £464.5m.
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Naspers sees significantly lower earnings per shareProsus expects core headline earnings per share from continuing operations to increase
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Barloworld to merge automotive and logistics business as deals dry upNon-renewals of contracts and the disposal of its multi-temperature foods storage and distribution business KLL weighed on its results to end-September
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