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Rocket Internet start-ups narrow losses in first half

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Rocket Internet start-ups narrow losses in first half

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BERLIN (Reuters) – German e-commerce investor Rocket Internet reported that its leading start-ups narrowed their losses in the first half of 2017, while revenue growth picked up slightly to 29 percent. Aggregate revenue rose 29 percent to 1.24 billion euros (1.27 billion pounds) in the first half, while the adjusted loss before interest, taxation, depreciation and amortisation was 161 million euros, down from 204 million a year ago. Rocket said meal kit delivery company HelloFresh, which has been considering an initial public offering, saw net revenue rise 49 percent to 435 million euros, while its loss rose slightly to 47 million euros. Rocket said in a separate statement it agreed to sell a 13 percent stake in Delivery Hero to global entertainment group Naspers for 660 million euros in cash, cutting its stake to 13 percent.

(Reporting by Emma Thomasson; Editing by Ludwig Burger)
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