Prosus Plans $5 Billion Buyback, Sale of More Non-core Assets in Fiscal 2027
Prosus (PRX.AS, PRX.JO) on Monday unveiled plans for a $5 billion buyback and the sale of more non-core assets in fiscal 2027 as it released its financial results for fiscal 2026.The technology investor said the new buyback scheme is a continuation of its efforts to return significant capital to shareholders, noting that at current levels, the acquisition of the company's shares "is one of the most compelling uses of capital.""Growth and profitability remain the twin pillars of our capital allocation philosophy. We are investing in two ways. First in our ecosystems. That means bolt-on M&A to strengthen what we already have, building or acquiring leading assets where we see genuine platform potential, and taking minority positions in companies that can accelerate the broader ecosystem. And secondly in ourselves, via our buyback program," Chief Financial Officer Nico Marais said.With key associate investments including Tencent, Swiggy and Delivery Hero (DHER.F), Prosus is planning to further intensify its investment activities in fiscal 2027 and is looking to finance the pursuit of opportunities with the sale of additional non-core assets. In fiscal 2026, the company divested $2 billion in assets.The group also expects artificial intelligence to continue as a driving force for industries and is earmarking a large portion of its strategy to boost related capabilities.For the 12 months ended March 31, Prosus reported a year-over-year decrease in profit attributable to equity holders of the group to $11.64 billion from $12.37 billion. On the other hand, revenue increased year over year to $9.71 billion from $6.17 billion.For fiscal 2026, directors recommended a higher dividend of 0.28 euro per share, payable Nov. 24 to shareholders on record Nov. 2.Prosus rose nearly 3% in early trading in Amsterdam.
