TMTPOST -- Dutch technology investor Prosus reported a 99% increase in adjusted half-year core profit on Monday, buoyed by strong performances across its digital services and e-commerce businesses.

Adjusted EBITDA rose to $423 million, up from $213 million a year earlier, while revenue climbed 22% to $3.6 billion, driven by robust results at food delivery platform iFood and classifieds business OLX.

Majority-owned by South Africa's Naspers and the largest shareholder of Chinese tech giant Tencent, Prosus is undergoing a sweeping transformation from a passive investment vehicle into an active operator of its global e-commerce assets.

In Europe, the company is integrating its €4.1 billion ($4.7 billion) acquisition of Just Eat Takeaway. Prosus also announced a $1.3 billion deal in September to buy French classifieds platform La Centrale, and Reuters reported in November that it had shown early interest in acquiring German auto marketplace Mobile.de.

In India, Prosus has invested $350 million in ride-hailing app Rapido and $146 million in online travel agency Ixigo. In Latin America, its iFood unit acquired a stake in fintech firm CRMBonus and has reportedly entered advanced talks to purchase benefits provider Alelo for $905 million.

"We remain disciplined in managing our portfolio by divesting non-strategic businesses and allocating that capital towards our ecosystem strategy," Prosus said.

The company generated $1.2 billion from divestitures in the first half and expects that figure to rise to $2 billion by fiscal year-end. It reported $18.3 billion in cash reserves, with an additional $2.5 billion available through an unused credit facility.

Prosus remains committed to pursuing major acquisitions across Europe, Latin America and India, Chief Financial Officer Nico Marais told Reuters. The company also invested more than $100 million in the first half to develop agentic AI models tailored to its platforms.