Deliveroo reported a disappointing nine per cent drop in takeaway orders but it was not enough to dampen a spike in its revenue for the first leg of the year.
Tthe average number of customers visiting the app fell to 7.1 million from 7.6 million in the same period last year, as high inflation and a tightening of consumer spending deterred people from splashing out on takeaways.
However, the London-listed business said that total revenue was up four per cent growth as it was bolstered by takings from its advertising revenue.
An enhancement to the number of restaurants it sources from in the UK and Ireland helped drive revenues up 11 per cent to £299m up from £268m in the same period last year.
“Revenue growth of 4 per cent and broadly flat GTV (both in constant currency) represents a resilient performance, particularly in the context of inflationary pressures and the ongoing cost of living crisis and against a challenging comparison base,” founder Will Shu, said.
He added:” Against this backdrop, I’m particularly pleased with our performance in UKI, reflecting a further improvement in our offering to consumers. We remain confident in our ability to deliver on our plans to drive profitable growth and sustainable cash generation.”
It comes as the group was forced to slash 350 job roles earlier this year across all levels as high inflation, recession fears and a decision to over hire employees rattled the business.