Half year revenue boost of 58% for Just Eat

12 August 2014 by
Half year revenue boost of 58% for Just Eat

Just Eat, the online ordering service for takeaway restaurants, has reported a 58% increase in revenue to £69.8m in its half year results to 30 June 2014.

Orders for the service, which connect 6.9 million active users to more than 40,000 restaurants in 13 countries, were also up 50% to 27.5 million, with a 591% increase in EBITDA to £15.91m from £2.3 the previous year. Profit after tax was up 200% to £6m.

David Buttress, chief executive of Just Eat, said he was delighted with the "excellent progress" across the business in the first six months of 2014.

"We are accelerating our mobile strategy across all our geographies and in the UK over 56% of orders are already being placed via apps or through a mobile device.

"It has been an exciting period for Just Eat, with our IPO in April and inclusion in the FTSE 250 in June. I would like to thank the whole team for their continued passion and commitment."

Buttress added that with July's results showing "significant year-on-year growth", he is confident that the momentum of the first half of the year will be maintained.

"Our inherently strong operational leverage should result in full year margin improvement in the UK. We remain focused on the opportunity ahead of us, both in our core takeaway delivery market and the untapped collection/pick-up space."

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