Mr D Food Makes Profit For The First Time

Mr D Food Profitability Milestone: It is an exciting time for Mr D Food! The fast-food delivery company became profitable for the first time in its history in the 2024 financial year.

Mr D is part of the Takealot Group. The Group includes e-commerce retailer Takealot.com and the fashion-focused Superbalist.com. It grew gross merchandise value by 3% and revenue by 8% (in rands) year on year. 

Mr D Food Profitability Milestone

The Takealot Group vision is to create a sustainable and diverse product, and technology-driven African champion. Its mission is to save customers time and money, enable businesses, and create opportunities. 

Note that Takealot Group is part of the Naspers e-commerce portfolio. The portfolio is made up of online retail, classifieds and fintech businesses spread across the world. 

On a consolidated basis, the portfolio achieved profitability in the second half of the 2024 financial year and reported full year profits as well – ahead of Naspers’s 2025 financial year target.

Challenges Of The Food Delivery Segment

Nasper proudly announced on Monday, saying, “ Mr D increased gross merchandise value (GMV) by 16% in local currency, despite tough trading conditions in its traditional middle-income market. The business reached profitability for the first time, with a trading profit of US$3-million (R54-million at the time of writing) for the financial year.”

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Also, Takealot.com grew GMV by 3% and reduced trading losses by $4-million (R72-million). 

Nasper highlighted the profit of fintech but it also emphasized the challenges the company faces as a result of high inflation and increased interest rates. 

The company said, “There was also increased fragmentation as competitors continue to invest heavily in e-commerce capability. Temu and Shein have made inroads in the South African market, and the recent arrival of Amazon will intensify competition further,”

Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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