Takealot increased revenue and is much closer to reporting a trading profit, which bodes well for the eCommerce giant as competition increases.
Naspers recently released its consolidated interim financial statements for the six months ended 30 September 2023.
Naspers owns numerous businesses in South Africa, including Takealot, Mr D Food, Superbalist, AutoTrader, Property24 and PayU, and Media24.
As part of its financial statements, Naspers revealed that Takealot’s revenue grew by 9% in local currency. It also grew GMV by 15% in local currency.
To put it into numbers, Takealot increased its revenue from around R6.3 million to R6.9 million for the six-month reporting period.
Takealot also continued to grow its marketplace seller base, which reached approximately 10,600 sellers in September 2023.
Mr D grew revenue by 11% and GMV by 15% in local currency. Naspers said Mr D’s partnership with Pick n Pay, for which it handles some on-demand deliveries, continued to scale.
Despite depressed consumer demand and load-shedding, Takealot reduced its trading losses by a significant 85% when measured in US dollars.
Takealot’s trading loss was reduced from the previous period’s $13 million to $2 million.
The latest results show that Takealot, after a short period of increased losses, is back on track to turn a trading profit soon.
The charts below show Takealot’s financial performance over the last five years.