Just Eat plc a leading global marketplace for online food delivery, today updates the market for the three months to 31 March 2017.
Highlights from the update include:
- Reported revenues were up 46% to £118.9 million (Q1 2016: £81.5 million).
- On a currency neutral, like for like1 basis, revenues grew by 40%, driven by strong order growth, last year’s commission increases, including the UK, and the inclusion of SkipTheDishes.
- Total orders of 39.0 million (Q1 2016: 31.5 million), up 25% on a like for like1 basis.
- UK orders were 24.0 million (Q1 2016: 20.6 million), up 17%. After taking account of both the benefits associated with the additional leap year trading day and Easter falling into Q1 2016, order growth would have been 19%.
- International orders of 15.0 million (Q1 2016: 10.9 million), up 38% or 43% on a like for like1 basis.
- Continued progress rolling out our Orderpad restaurant platform, through the UK, Canada, Denmark, Ireland, Italy and Spain.
Paul Harrison, Interim CEO, and CFO commented:
“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. We are pleased to reiterate guidance given at our 2016 full year results on 7 March 2017, for full year 2017 revenues of between £480-495 million, and underlying EBITDA of £157-163 million.”