Takealot swings to first full-year profit as revenue tops $1bn

Source: Reuters/Esa Alexander

Technology investor Naspers said the Takealot Group delivered adjusted earnings before interest and tax, (aEBIT) of $11m for the year to 31 March, marking its first year of aEBIT profitability from a loss of $13m a year earlier.

• Group revenue rose 19% to $1bn, "defending its market leadership," it said.

• Takealot.com, the group's general merchandise e-commerce platform and Amazon's direct competitor, saw its gross merchandise value increase by 15%, with revenue climbing 19% to $906m and order volumes up by 18%.

• Takealot.com delivered aBIT profit of $7m.

• The group's on-demand platform, Mr D, which serves restaurants, groceries and other shops grew revenue by 11% to $138m, delivering a stable aEBIT of $4m.

• Takealot Fulfilment Solutions, the group's newest infrastructure business to monetise logistics for external customers, recorded 93.5% year-on-year revenue growth.