Jumia Posts €35.4 Million Loss, Revenue Falls By 56%
Jumia, Rocket Internet’s eCommerce group in Nigeria and Africa has just released its 2016 half year consolidated result showing the company recorded a net loss of EUR35.4 million within the period.
When compared to its net loss recorded in last year, the company has managed to reduce its loss by 19%. In the first half of 2015, the company recorded a net loss of EUR43.7 million.
Also on the topline, Jumia’s revenue also fell by 56%. With the first half of this year, net revenue was EUR33.0 million compared to last year when it recorded EUR75.8 million f0r the first half of 2015.
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