Prosus Reports First-Ever Profit in E-Commerce Business Operations
Search our blog for articles and insights right here, just type your interest and dive into a world of knowledge.
Popular articles
Prosus and Naspers Turn E-Commerce Into Profit
Prosus NV and its Cape Town-based parent company, Naspers Ltd., have achieved a significant milestone by turning their e-commerce business profitable for the first time in history. This development comes as Fabricio Bloisi is set to assume the role of Chief Executive Officer in July.
Milestone Achievement
The e-commerce operations, excluding the stake in Tencent Holdings Ltd., span a range of companies including Brazil's iFood and India's PayU. For the first time, this diversified portfolio reported an annual trading profit, totaling $38 million. This shift to profitability marks the culmination of years of strategic investment and scaling efforts.
This achievement is noteworthy against the backdrop of substantial growth and investment designed to expand and strengthen the business. The announcement underscores a pivotal moment for both Prosus and Naspers as they continue to refine their global e-commerce strategies.
Future Prospects
As Fabricio Bloisi prepares to take over the leadership reins, the profitability of the e-commerce segment bodes well for future endeavors. This change in leadership is expected to further bolster the companies' ambitions and potentially accelerate their growth trajectory in the competitive global market.
Overall, the recent financial performance highlights the successful execution of long-term investment plans and a strategic focus on sustainable growth within the e-commerce sector.
