Prosus Delivers Solid Results for the Twelve Months Ended 31 March 2020
Prosus N.V. (AEX:PRX) today announced its results for the twelve months ended 31 March 2020.
Group highlights for the period
The complete results and commentary are available at www.prosus.com/investors.
*Prosus holds a 31% stake in Tencent.
Basil Sgourdos, Group Chief Financial Officer, said:
"The group has delivered a good set of annual results, with all of our segments making good progress against their financial and strategic objectives. Revenue grew 23% to US$21.5bn, and trading profit grew 16% to US$3.8bn. The Classifieds and Payments & Fintech segments continued to deliver growth, and both are profitable at their core. Our Food Delivery segment almost doubled revenues and is now one of the fastest-growing food delivery businesses globally, reflecting our ability to build scale and strong positions in high-growth markets. We ended the period with a net cash position of US$4.5bn, which positions us well to continue investing in our businesses and pursuing growth opportunities."
Bob van Dijk, Group Chief Executive Officer, said:
In recent months, Covid-19 has had a marked impact on the daily lives of citizens and economies across the world. From the start, we have prioritised the health and well-being of our people, their families, and the communities we serve. We are working hard to protect our businesses for the long term. At both a group and a local company level, we have also provided support to governments and communities to play our part in the response to the pandemic. While the global societal and economic impacts of Covid-19 are likely to persist for some time, we are con?dent of our ability to weather the storm. We also expect that group businesses are likely to benefit from a further acceleration of the underlying trend toward online - brought about by the Covid-19 pandemic - to emerge well-placed for long-term growth."
Koos Bekker, Group Chair, said:
NOTES on the numbers:
The complete results are available at www.prosus.com/investors
Looking ahead: navigating uncertain times