Deliveroo 'could be worth £1.5bn to UK economy by 2019'

By Sophie Witts contact

- Last updated on GMT

Deliveroo 'could be worth £1.5bn to UK economy by 2019'

Related tags: Broadsheet

Deliveroo has commissioned a report which claims it provided a £460m boost to the UK food and drink industry in the year to June 2017.

The figure is calculated based on the increase in sales at restaurants signed up to the service, as well as the rise in goods bought from suppliers.

The study, carried out by consultancy Capital Economics, also claims the online ordering giant could contribute £1.5bn to the UK economy by June 2019 if its rate of growth continues.

According to The Daily Telegraph​, the company contributed £372m to the economy this year.

The report claims that if the rate of new restaurants joining the platform continues, it would see the company pay roughly £200m in tax.

Deliveroo, which launched in London in 2013, says it has 10,000 UK restaurants listed on its site.

This year has seen Deliveroo begin a roll-out of its delivery-only ‘dark kitchens’​ across the UK, trial a partnership to deliver food to wet-led pubs and bars,​ and launch a subscription service for regular users.

Despite its boom in growth the company posted pre-tax losses of £129m in 2016,​ up from £30m in 2015, as it funded its international expansion.

The company has faced criticism for its treatment of its 'self-employed' workers, and this month sought to temper the issue by offering drivers an insurance policy that protects their pay if they get injured or ill.

Related topics: Business & Legislation

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