Prosus pushes ahead with Just Eat turnaround after ยฃ3.6bn takeover
The owner of Just Eat Takeaway.com has reported a jump in profits as it pushes ahead with a transformation strategy at the takeaway delivery specialist.
Prosus, a global technology investor majority-owned by South Africaโs Naspers, snapped up Just Eat Takeaway for ยฃ3.6 billion late last year.
The group told shareholders on Monday that adjusted earnings grew by 84% to 1.3 billion US dollars (ยฃ1 billion) over the past year.
Prosus said it is overseeing an โoperational turnaroundโ at Just Eat Takeaway, focusing on a cultural shift in line with the new owner, accelerating technology and sharpening its market focus.
Just Eat Takeaway delivered revenues of 1.9 billion dollars (ยฃ1.44 billion) in the six months since it was bought.
It said it also reported adjusted earnings of 83 million dollars (ยฃ62.8 million) over the period.
Prosus said it has seen positive early signs from its transformation approach, with โorder growth of up to 25%โ through a pilot programme in selected cities.
Prosus also owns Brazilian food ordering and delivery platform iFood and Dutch online marketplace business OLX.
Revenues across the group also rose by 57% over the past year, amid a boost from acquisitions.
The company said it is targetting significant growth through AI investment and has developed its own version of artificial intelligence agent OpenClaw, which has faced data privacy concerns in Europe.
Nico Marais, chief finance officer of Prosus, said: โThese results reflect the discipline of our teams and the compounding effect of consistent execution.
โLooking ahead, we are deploying capital by investing in iFood and Just Eat Takeaway to strengthen our food ecosystem, continuing our buyback programme, and actively building Prosus Plus.โ
Fabricio Bloisi, chief executive of Prosus, said: โAt Prosus we are building something fundamentally different, an AI-powered lifestyle ecosystem that gets smarter and stronger with every interaction.
โEighteen months ago, this was a vision. Today, the integrated ecosystem is a reality, and itโs scaling fast.โ
