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Tech Gist

Jumia's Earnings Show A 56% Decline in Revenue Despite an Increase in Its Customer Base

Jumia faces a decline in its income thanks to the economic situation prevalent in the Country.
The company posted its 2016 half-year consolidated reports which showed a net revenue of EUR33.0 million for the first half of the year, down by 56% from the year before. Also, its cash position for the first half of the year fell to EUR5 million versus EUR10 million in the same period last year.

jumia-revenue-report

Image Source: Screenshot via https://www.rocket-internet.com


The company is blaming the impact of the shift from retail to marketplace and currency devaluation for the decrease in its net revenue
Despite this, Jumia’s active customer base increased from 800,000 to 1.2 million thanks to the restructuring of AIG into Jumia.
To read more, you can download the PDF here. 

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5 comments on “Jumia's Earnings Show A 56% Decline in Revenue Despite an Increase in Its Customer Base

  1. KingAbsolute says:

    But Recession is just a word…

  2. ỌBÁDÁRÀ says:

    … WELL, AM NOT TOO GOOD IN THIS AREA, BUT I KNOW THAT GROWING CUSTOMER BASE SHOULD SURELY TRANSLATE TO MORE PROFIT IN THE LATER RUN. I REALLY DON’T SHOP ON JUMIA THOUGH, KONGA IS MY OPTION…

  3. Adeniji Micheal says:

    Recession don hold them… Fairly use ti take over…

  4. Victor Molokwu says:

    Change Begins with you , Lmfao !

  5. Kemi Oguntayo says:

    Eya! I feel for all the companies trying to survive in this present economy, we can only pray. 🙁

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