Prosus Posts First E-Commerce Profit as New CEO Set to Join
- Profit comes as Bloisi prepares to take reins as CEO in July
- E-commerce includes internet businesses, excluding Tencent
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Internet investing giant Prosus NV and its parent Naspers Ltd. swung their e-commerce business into profit for the first time ever as new Chief Executive Officer Fabricio Bloisi prepares to take the reins in July.
The group’s e-commerce business, which excludes its stake in Tencent Holdings Ltd., reported a full-year trading profit of $38 million for the year ended March 31 as it managed to scale its business after years of investment, according to a statement on Monday. That’s up from a $413 million loss in fiscal 2023 for the unit, which comprises a portfolio of companies ranging from iFood in Brazil to PayU in India.