Deliveroo hails ‘healthy’ UK growth as orders rise
It said adjusted earnings for the full year are now on track to be in the ‘upper half’ of its £110 million to £130 million range as a result.
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Deliveroo has revealed a rise in orders over the latest quarter, amid “healthy” growth in the UK and Ireland.
The takeaway delivery specialist told shareholders it has made progress in “a more stable but still uncertain consumer environment”.
It said adjusted earnings for the full year are now on track to be in the “upper half” of its £110 million to £130 million range as a result.
There are many exciting opportunities ahead for the on-demand delivery industry
On Thursday, Deliveroo revealed that gross transaction value (GTV), its preferred measure for trade, grew by 5% to £1.78 billion for the quarter to September.
Meanwhile, order numbers grew by 2% to 71.1 million for the period.
In the UK and Ireland, the largest part of the business, it saw gross transaction value jump by 7%, while orders increased by 2% to 39.5 million, as customers spent more per order.
Its international arm saw a 4% rise in GTV over the period, with the firm highlighting that French business was temporarily knocked by the Paris Olympics.
Will Shu, founder and chief executive of Deliveroo, said: “Our results demonstrate another solid quarter of growth with a 6% year-on-year increase in GTV.
“UKI growth remains healthy, with improving order trends and overall we are pleased with the underlying growth in International, driven by the UAE and Italy.
“There are many exciting opportunities ahead for the on-demand delivery industry.
“With our market-leading CVP (consumer value proposition), our pioneering approach to new verticals and our continuing work on loyalty, price integrity and service, Deliveroo is well-positioned to capture the significant growth potential in an industry still early in its maturity.”
Shares in the business were 3.5% higher at 152.1p.