Prosus 1st Half 2020 Net Profit Fell 9.1%; Has Strong Balance Sheet
November 22 2019 - 8:53AM
Dow Jones News
By Ian Walker
Prosus NV (PRX.AE) on Friday reported a 9.1% fall in net profit
for the first half of fiscal 2020 as it booked higher net gains on
acquisitions and disposals a year earlier, and said its strong
balance sheet will help the company unlock new opportunities.
The Amsterdam-listed company, which was spun out of Naspers Ltd.
(NPN.JO) earlier this year, made a net profit for the half year
ended Sept. 30 of $2.51 billion compared with $2.76 billion a year
earlier.
Revenue for the period was $1.42 billion compared with $1.21
billion for the first half of fiscal 2019.
Prosus--which has a major stake in Tencent Holdings Ltd.
(0700.HK)--said revenue including economic interests rose 12% to
$9.9 billion.
It had cash of $5.4 billion at Sept. 30.
Prosus is 73.84% owned by Naspers.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
November 22, 2019 08:38 ET (13:38 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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