Just Eat raises expectations as takeaway orders jump

 
Caitlin Morrison
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Just Eat's deliveries have shot up (Source: Just Eat)

Takeaway firm Just Eat has raised revenue expectations, after orders jumped in the third quarter by almost 30 per cent.

The figures

Reported revenue was up 47 per cent to £138.6m from £94.5m in the same period of last year. On a currency neutral basis, revenue was up 44 per cent.

Total orders rose 29 per cent to 43.1m, with UK orders up 22 per cent at 26.2m and international orders up 43 per cent to 16.9m.

Why it's interesting

Just Eat said the rise in revenues was down to "strong order growth and the inclusion of SkipTheDishes", the Canadian company it bought last year. Today, the group noted that its proposed takeover of Hungryhouse has been granted provisional clearance from the Competition and Markets Authority.

The company has a cheery outlook, stating: "Given the continued strength of SkipTheDishes, driven by commensurate investment, we are pleased to raise our previous revenue guidance for full year 2017 of £500-515m to between £515-530m and retain that of underlying EBITDA of between £157-163m."

And investors were cheery too - shares went up three per cent at the open.

What Just Eat said

"The Just Eat team has once again delivered another period of strong growth," said chief executive Peter Plumb.

"As I get to know the company, it is great to see the UK business in good health and positive momentum across our international markets, particularly in Canada where SkipTheDishes' delivery expertise and relentless focus on customer service are driving excellent results.

"We will continue to invest for growth in technology, marketing and great people."

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