Takealot reports R235-million interim trading loss

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

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