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InvestmentsProsus sees H1 earnings per share up 400% on Tencent stake sale...

Prosus sees H1 earnings per share up 400% on Tencent stake sale By Reuters

¬© Reuters. FILE PHOTO: A brand of Prosus is diplayed at Amsterdam’s inventory alternate constructing as Prosus begins buying and selling on the Euronext inventory alternate in Amsterdam, Netherlands, September 11, 2019. REUTERS/Piroschka van de Wouw

AMSTERDAM (Reuters) – Technology investor Prosus (OTC:) NV expects a big rise in earnings per share for the primary half of its 2022 fiscal yr, the agency stated on Tuesday, because it gained proceeds of $12.3 billion from promoting a part of its stake in Tencent in April.

In a premarket assertion, Amsterdam-based Prosus stated earnings per share for the six months that ended on Sept. 30 can be up between 439% and 446% from $1.85 per share for the corresponding year-earlier interval.

It added that “core headline earnings” per share, a non-standard measure it makes use of to point working efficiency, can be up 5% to 12% from $1.34 per share.

That enchancment was pushed by a rise within the dividends it obtained from Tencent, wherein it nonetheless holds a 28.9% stake value 157 billion euros ($179 billion), after promoting 2% in April.

Prosus owns stakes in a wide variety of client web firms, starting from meals supply to academic software program to on-line marketplaces.

“These results reflect a diverse e-commerce portfolio, which has grown significantly in value,” Prosus stated in a press release.

“We goal to extend the dimensions of this portfolio over coming years.

Prosus, which is managed by Naspers of South Africa, is because of report earnings on Monday, Nov. 22.

($1 = 0.8790 euros)

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