Just Eat reports revenue rise of 25%

By James McAllister

- Last updated on GMT

Just Eat reports 25% rise in revenue

Related tags: delivery

Online food delivery platform Just Eat has reported a 25% increase in year to year group revenue - up to £247.5m - for the third quarter of 2019.

UK orders rose by 8% to 33m during the quarter, while group orders grew by 16% to 62m.

Just Eat says the increase in UK orders was driven by “rapid growth” of the platform’s delivery function, which is now present in all key locations.

The company notes that its marketplace business has seen slower growth due to a softer consumer spending backdrop and changing consumer preferences.

Revenue for the year to date is up 28% to £717.8m, with the expectation that turnover for the full year will exceed £1bn and EBITDA will reach between £185m and £205m.

“We are seeing strong growth in many of our markets, including Canada, Europe and pleasingly Australia, where we are starting to reap the benefits of our turnaround plan,” says Just Eat’s interim CEO Peter Duffy.

“Our UK marketplace business is a strong and clear leader; however, we are seeing a structural shift, with increasing demand on our platform from customers for broader cuisine choice and more meal occasions, led by quick service restaurant chains.

“The strong growth in our UK delivery business shows that we can successfully meet these needs.”

In July it was announced that Just Eat is to merge with Takeaway.com​ to create one of the world’s biggest online food delivery businesses.

Related topics: Business & Legislation

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