Just Eat revenues soar as more customers order food online

Revenues at online delivery firm Just Eat rocketed in the first quarter as it continues to benefit from hungry customers ordering food online.

Tuesday, 2nd May 2017, 9:16 am
Updated Tuesday, 9th May 2017, 6:20 pm
The City of London skyline at dusk. Photo: Jonathan Brady/PA Wire

Sales rose 46% to £118.9 million in the three months to March 31, with UK orders rising 17% to 24 million.

On a like-for-like and currency neutral basis, revenue was up 40% and total orders grew 25% to 39 million.

Just Eat said the figure would have been higher had it not been for an early Easter and one day less of trading because of the leap year.

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Just Eat is experiencing management changes, with chief executive David Buttress forced to step down in February due to “urgent family matters” and chairman and interim boss John Hughes also taking a leave of absence in order to undergo treatment for a medical condition.

Interim chief executive Paul Harrison 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 firm reiterated its full year guidance of revenues of between £480 million and £495 million, and underlying earnings of between £157 million and £163 million.