trading loss of R253 million for the yearAccording to Takealot-owner Naspers’s latest results for the financial year ended 31 March 2024, normalised consumer behaviour post-pandemic and a challenging economic environment, characterised by interest rates and high inflation, featured throughout the year.
Takealot.com grew GMV by 3% but narrowed its trading losses by US$4 million in rand terms, excluding M&A, from the previous financial year. The business became profitable for the first time, with a trading profit of US$3 million for the financial year. Property24 continued its reign as the market leader and acquired a stake in Grace Nineteen, a Black-owned property technology that will provide innovative tenant solutions.
“We are proud of the performance of these businesses, most notably Takealot.com, which has surpassed 10,000 active sellers in its marketplace. We believe that the platform economy is a catalyst for economic growth, innovation, and job creation in South Africa.”“We have made substantial progress this year in delivering against our strategy.