MTN investment Jumia takes lockdown revenue hit

Lagos — Revenues for African e-commerce heavyweight Jumia slid by 10% in the second quarter, dashing hopes that lockdowns aimed at stemming the spread of the new coronavirus would lead to a flood of online orders.

Shares in the struggling firm were 27% lower at $11.82 per share, driven in part by a 13% decline in gross merchandise value — a closely watched figure that tallies the total amount of goods sold over the period. Softer restrictions elsewhere led to “less drastic changes in consumer behaviour”, Jumia co-founder Sacha Poignonnec said on an earnings call, while the surge in some markets was offset by lost revenue due to logistical problems and closed borders.

Colombia Últimas Noticias, Colombia Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

The property market starts returning to pre-lockdown levels | CitypressOnline property listing portals saw a decline in activity at the start of the lockdown, but it has been increasing steadily, almost back to pre-lockdown levels.
Fuente: City_Press - 🏆 7. / 72 Leer más »

Exxaro reports earnings boost from coal exports and weaker randMiner operated as an essential service during SA's Covid-19 lockdown
Fuente: BDliveSA - 🏆 12. / 63 Leer más »