Technology

Deliveroo Keeps Annual Guidance As Quarterly Revenue Rises

By Donna Ahern
Deliveroo Keeps Annual Guidance As Quarterly Revenue Rises

Meal delivery group Deliveroo maintained its full-year financial guidance on Thursday, as it reported a 5% rise in third-quarter gross transaction value, helped by an improving trend in customer orders.

The group, which has 183,000 restaurants and 20,000 grocery sites on its platform, said orders fell 1% in its third quarter, having been down 6% in the first half.

Deliveroo said while food price inflation was moderating, the growth in gross transaction value (GTV) was supported by "expanded selection, targeted promotions and service enhancements."

Competitors 

The group, which competes with Just Eat Takeaway.com and Uber Eats in markets in Europe, the Middle East and Asia, kept its guidance for full-year GTV growth in the low single digits, with adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of £60-80 million.

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"My confidence in our ability to drive growth and deliver on our goals for profitability and sustainable cash flow generation has never been stronger," founder and CEO Will Shu said.

Shares in Deliveroo are up 43% so far this year.

Read More: Deliveroo Lifts Guidance As Efficiency Drive Delivers

News by Reuters, edited by Donna Ahern, Checkout. For more technology stories, click here. Click subscribe to sign up for the Checkout print edition.

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