FINANCE

Process Group Trading Profits Rise H1, E-Commerce Loss Expands Reuters


Reuters. File photo: ProSA’s logo appears on the Amsterdam Stock Exchange Building when ProSA started trading on the Euronext Stock Exchange in Amsterdam, the Netherlands, on September 11, 2019. REUTERS / Piroschka van de Wouw / File photo

AMSTERDAM (Reuters) – Process NV reported on Monday that trading profits rose 8% to $ 2.9 billion in the first half of fiscal year 2022 as investment portfolios in education technology and food companies grew rapidly.

That compares to 2. 2.7 billion for the same period a year ago.

On November 16, Process (OTC 🙂 stated that for the six months ending September 30, the core profit will be 5% to 12% per share.

Pross said in a press release that its “e-commerce portfolio” revenue grew 53% to $ 4.2 billion, while business losses in that segment increased to $ 372 million from $ 214 million trading losses in the same period a year earlier.

“E-commerce” consists of a group of businesses that own process-classified advertising, catering, educational technology, and fintech and financing.

“In the first half of the year, our Internet businesses grew a strong performance for the same period last year,” CEO Bob Van Dyke said in a statement.

Prosus, sometimes compared to SoftBank and its Vision Fund https://www.reuters.com/business/finance/europes-softbank-prosus-plays-long-game-shrink-value-gap-2021-07-08, The shares are owned by a large range of consumer internet companies. Its most valuable investments in its e-commerce portfolio include Tencent Holdings (OTC :), a ইন্টারনেট 175 billion stake in Chinese Internet gaming and social media companies.

Tencent’s returns dominated Pross Group’s returns, and Pross recorded a net profit of $ 15.9 billion, up from $ 2.89 billion in the same period a year earlier, with the sale of $ 15 billion in shares of Tencent in April.

In August, Prosus set up a cross-holding structure with South African Naspers, under which Prosus shareholders own 60% of the company’s underlying assets but Naspers retain control. They share a single board.

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