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Just Eat revenues up 46% in first quarter

Just Eat, the marketplace for online food delivery, has reported that revenues grew by 46% to £118.9 million in its first quarter.

FOOD & DRINK

Just Eat revenues up 46% in first quarter

In the three months to 31 March, total orders rose by 25% to 39 million on a like-for-like basis. UK orders were up 17% to 24 million in the period.

On a currency neutral, like-for like-basis, revenues grew by 40% driven by strong order growth, last year's commission increases and the inclusion of Just Eat's recent acquisition, SkipTheDishes.

Paul Harrison, Just Eat's interim chief executive and chief financial officer, said: "Just Eat has enjoyed another period of strong growth. In addition to structural market growth, we are also seeing the benefits of ongoing investments in technology and marketing.”

The company has reiterated guidance given for full year 2017 revenues of between £480-495 million, and underlying EBITDA of £157-163 million.

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