Just Eat serves up strong growth in third quarter

Lloyd Doyle
October 31, 2017

Online food delivery service Just Eat has reported a 47 per cent increase in revenues during the third quarter of 2017 compared with the same period past year.

The online takeaway ordering company's sales soared 47pc to £138.6m in the three months to September bolstered by strong performance in Canada, where it recently acquired competitor SkipTheDishes. On a currency neutral basis, quarterly revenues grew by 44 per cent.

Orders in Canada more than doubled in the latest three months and helped the overseas total rise by 43% to 16.9mln.

Total orders rose 29% to 43.1 million, with the United Kingdom up 22% and worldwide up 43%. The company will continue to report full financials at the full and half year, alongside first and third quarter trading updates.


"It is great to see the United Kingdom business in good health and positive momentum across our global markets", said Chief Executive Peter Plumb, the former boss of Moneysupermarket.com, who took the top job last month.

Looking forward JustEat said that it was raising its guidance for the full year 2017 to between £515-530m from £500-515m. It will also retain an underlying EBITDA of £157-163 million.

Its next market update will be its full year 2017 results on 6 March 2018.

"As I get to know the company, it is great to see the United Kingdom business in good health and positive momentum across our worldwide markets, particularly in Canada where SkipTheDishes [is] driving excellent results".

Other reports by Iphone Fresh

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