Takealot reports R235-million interim trading loss

Published: 2022-11-23 10:52 +02:00 by Duncan McLeod tag: E-commerce

Profitability decreased due to higher fuel surcharges, investments in new warehouses and discounted clearance of inventory, parent Naspers said.

Inside the waiting area of Takealot’s customer collections centre in Midrand, Johannesburg

Takealot Group reported a US$13-million interim trading loss for the six months to end-September, parent Naspers said on Wednesday.

That translates into a rand loss of R234.9-million using the rand/dollar exchange rate of R18.07 at the close of foreign exchange trading on 30 September – the end of Naspers’s latest six-month reporting period.

The loss, which pushed trading margin from -1% a year ago to -3%, came despite a 15% improvement gross merchandise value (GMV) sold and a 13% rise in revenue. First-party retail sales grew 2% while third-party marketplace sales soared by 27%.

“Profitability decreased compared with the prior period on higher fuel surcharges, investments in new warehouses and discounted clearance of inventory,” Naspers said in notes alongside its interim results.

Takealot’s fashion e-retail business Superbalist grew GMV by 15% in local currency despite increasing competition from brick-and-mortar fashion retailers, the group said. Read: Takealot expands in the townships as Amazon launch nears

Mr D, Takealot Group’s delivery business, increased orders and GMV 9% and 13% respectively, “maintaining its strong position in South Africa’s main cities”. Mr D announced a partnership with Pick n Pay in May for grocery deliveries, which commenced in August. Read: Pick n Pay partners with Takealot in online shopping push

“In coming months, Mr D will roll out the service across the country,” Naspers said.  – (c) 2022 NewsCentral Media Get the latest and best South African tech news

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