Just Eat share price rises as it celebrates 51 per cent surge in orders

 
Billy Ehrenberg
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Just Eat listed back in April

Shares in newly-listed online takeaway marketplace Just Eat rose 2.8 per cent in early trading as it reported a large surge in orders during its third quarter, with like-for-like orders up 51 per cent.

Total orders rose 56 per cent, rounding off a positive interim statement.

The company said its strong performance "reflect[ed] both the underlying strong momentum in all parts of the business and a July 2013 comparator, which was weak due to the 2013 UK heat wave".

Just Eat has been pursuing an overseas strategy too; since 30 June it has increased its stake in French rival Alloresto.fr to 80 per cent and established a joint venture with Brazilian operator iFood, of which Just Eat owns 25 per cent.

Chief executive David Buttress said:

I am very pleased with our performance over the summer, a period when even more consumers have enjoyed the benefits of our online marketplace for takeaway food, particularly via their mobile devices.

At a strategic level, our commitment to developing market leadership in all of our territories was further reinforced by Just Eat acquiring control of Alloresto.fr in France, and creating a market-winning JV in Brazil with iFood.

We are in an excellent position as we enter the important winter period and remain confident for the full year.

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