Rocket Internet says start-ups grow sales, limit losses

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FRANKFURT (Reuters) – German ecommerce investor Rocket Web mentioned its principal holdings noticed extra income progress and narrowed their losses within the first quarter, whereas the corporate was nicely funded with gross money of two.6 billion euros ($3.03 billion).

Rocket’s largest holdings Supply Hero, HelloFresh, Dwelling24 and International Style Group have already reported quarterly figures, whereas Dwelling24 introduced plans earlier this month for an preliminary public providing.

Rocket mentioned its African ecommerce group Jumia, additionally a potential candidate for a inventory market itemizing, noticed gross merchandise worth – the worth of products offered through the location – rose 71 % to 151 million euros, including it remained nicely funded.

On-line residence furnishings website Westwing noticed gross sales rise 18 % to 71 million and reported its second consecutive worthwhile quarter, with an adjusted earnings earlier than curiosity, taxation, depreciation and amortization margin of 1.7 %.

Reporting by Emma Thomasson; Modifying by Christoph Steitz

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