Rocket Internet has seen its profit fall slightly over the first nine months of the year. The German start-up investor mainly blames this on the declined market value of fashion platform Global Fashion Group and the African web store Jumia.
A profit of 285 million euros was recorded. That was 4 percent less than a year earlier. Compared with the figures for the first half year, there has been a substantial drop in profit. Then Rocket Internet reported a result of 548 million euros.
Turnover in the first nine months of the year increased by 47 percent on an annual basis to 47.8 million euros. Rocket Internet tries to grow young tech companies into established names. The company previously invested in the delivery of fresh food packages HelloFresh, clothing web store Zalando and meal order site Delivery Hero.
Abaigael Schlomski is an accomplished economist and financial journalist with over a decade of experience in the industry. He is a regular contributor to EconomicInform, where he provides in-depth analysis and expert commentary on the latest economic trends and events. With a keen understanding of the financial markets and a talent for breaking down complex economic concepts for a general audience, Maurice is a trusted and respected voice in the field.
