Overpaid CEOs

What would a fair payment be?

This prosus ceo is seriously overpaid!

The tencent investment was made by Koos Bekker. He inherited it. The ingham analytics assessment is particularly damming. How do you pay out $250m for this rubbish? Shocking results. Everything is losing money. And more losses than previous year. Tencent is a life saver.

Prosus has a 31.2% shareholding in Tencent. Consolidated on that basis Ingham Analytics say that Tencent accounted for 122% of Prosus trading profit (up from 116%) and 112% of core earnings (up from 107%). Core earnings, excluding non-cash adjustments, increased by 11% in US dollars, driven by Tencent. The other assets lost a collective $440 million (an 88% increase from $234 million). EPS grew by only 9% – hardly the stuff of a supposed tech group seeking a premium rating.

Ingham Analytics reiterate that Prosus continues to not only lose money but also hemorrhage cash. Net cash used in operating activities before dividends received (from Tencent) was $591 million – up 21% from $487 million. Thanks to dividends received of $383 million the net cash outflow was reduced to $209 million, but still up from $145 million.

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