Prosus expects up to 22.7% earnings growth for six months to end-September

AMSTERDAM (Reuters) - Prosus NV , the giant investor in online classifieds, food delivery, and payments, expects to report 16.9-22.7% growth in earnings per share for the six months to the end

November 16, 2020

AMSTERDAM (Reuters) – Prosus NV <PRX.AS>, the giant investor in online classifieds, food delivery, and payments, expects to report 16.9-22.7% growth in earnings per share for the six months to the end of September, it said on Monday.

The company’s forecast comes a week before it is due to report earnings on Nov. 23.

In a statement the company said it faced challenges due to the coronavirus pandemic “particularly in countries where government lockdown regulations were wide ranging and long lasting.”

“However, we have seen a sharp recovery in all of our impacted businesses … once lockdown regulations began easing,” the company said in a statement.

It forecast an increase of $0.26 to $0.35 over the $1.54 in earnings per share it registered in the same six months of 2019.

Shares in Amsterdam were down 0.5% at 88.34 euros ($104.56) at 1607 GMT.

Prosus is controlled by Naspers <NPNJn.J> of South Africa and owns a 31% stake in Chinese software giant Tencent <0700.HK>.

(Reporting by Toby Sterling; Editing by David Goodman and Keith Weir)