Just Eat reports 25% jump in group revenue to £247.5m

21 October 2019 by
Just Eat reports 25% jump in group revenue to £247.5m

Global online restaurant delivery company Just Eat has reported a 25% increase to £247.5m in year to year group revenue for the third quarter of 2019.

Orders in the UK grew by 8% to 33 million as a result of rapid growth in the group's delivery proposition now present in all key locations. Globally, orders jumped by 16% to 62 million.

The company noted that there has been some slower growth due to a softer customer spending.

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

Peter Duffy, interim chief executive of Just Eat, said that the UK led the company's performance worldwide. "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. The winning platform for food delivery will offer customers the broadest range, underlining the importance of our move to the hybrid business model and continuing investments in key markets."

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