May 29, 2018 / 6:16 AM / 3 months ago

Rocket Internet says start-ups grow sales, limit losses

FRANKFURT, May 29 (Reuters) - German ecommerce investor Rocket Internet said its main holdings saw more revenue growth and narrowed their losses in the first quarter, while the company was well funded with gross cash of 2.6 billion euros ($3.03 billion).

Rocket’s biggest holdings Delivery Hero, HelloFresh, Home24 and Global Fashion Group have already reported quarterly figures, while Home24 announced plans earlier this month for an initial public offering.

Rocket said its African ecommerce group Jumia, also a possible candidate for a stock market listing, saw gross merchandise value - the value of goods sold via the site - rose 71 percent to 151 million euros, adding it remained well funded.

Online home furnishings site Westwing saw sales rise 18 percent to 71 million and reported its second consecutive profitable quarter, with an adjusted earnings before interest, taxation, depreciation and amortisation margin of 1.7 percent. ($1 = 0.8593 euros) (Reporting by Emma Thomasson; Editing by Christoph Steitz)

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