JOHANNESBURG (Reuters) -Dutch technology investor Prosus plans to raise $2 billion through asset sales in the near term, the company's CEO said on Wednesday as he announced a 54% increase in quarterly
Prosus Reports 54% Profit Surge, Plans $2 Billion Asset Divestiture
Prosus Financial Performance and Future Plans
JOHANNESBURG (Reuters) -Dutch technology investor Prosus plans to raise $2 billion through asset sales in the near term, the company's CEO said on Wednesday as he announced a 54% increase in quarterly earnings.
Quarterly Earnings Overview
Amsterdam-headquartered Prosus, which is majority-owned by South Africa's Naspers and focused on food and lifestyle-ecommerce within its key markets of Latin America, India and Europe, has already raised $780 million from asset sales in the last four months to July.
Asset Sales Strategy
In a shareholder letter covering the annual general meeting and sent to media, Chief Executive Fabricio Bloisi said asset sales to date showed "our commitment to disciplined capital allocation" and set $2 billion as a near-term target.
Revenue Growth Analysis
Bloisi also said the company's ecommerce adjusted earnings before interest, taxes, depreciation and amortization (aEBITDA) rose 54% to $237 million in the quarter ending June 30, at the top end of the group's guidance.
Revenue rose 15% year-on-year to $1.7 billion, he said.
(Reporting by Nqobile Dludla;Editing by Helen Popper)
