JSE’s most valuable company on a roll

Prosus posts a rise in profit off the back of higher revenue from its eCommerce business and the sale of some of its stake in China’s Tencent. 

The Euronext-listed company’s adjusted earnings before interest and taxes totaled $250 million over the six months to the end of September, compared with $60 million over the same period a year earlier.

Analysts on average projected $289.5 million.

Prosus was spun out from Cape Town-headquartered Naspers and listed in Amsterdam in 2019. Through Naspers, the company made a blockbuster investment in Tencent in 2001, when it paid more than $30 million for a nearly 50% stake.

Today, it owns roughly a quarter of the company, a stake worth about $170 billion. The group has been working to close the gap between the value of its stake in the Chinese technology giant and the rest of its assets.