On Tuesday, Amsterdam-listed shares in Prosus (AS:PRX) moved lower after the Dutch e-commerce investment company warned that income would decline in a significant manner in the six months to September 30.

On Monday, the group, which is controlled by South Africa’s Naspers, said that it now expects earnings per share (EPS) during the period to fall by between 79.9 per cent – 86.9 per cent to 875 – 805 US cents.

Reportedly, Prosus pointed to a tough comparison against the corresponding period last year when the sale of a 2 per cent holding in Chinese tech giant Tencent led to gains of USD 12.3B.
However, this year, the expected return from the offloading of shares of the Chinese company is only USD 2.8B.

IMoreover, dilution losses and impairment charges related to other investments are also seen growing by USD 1.8B.