Deliveroo sees H1 losses narrow to £104.8m

Deliveroo has reported a statutory pre-tax loss of £104.8m in its half-year report, improving 18% from its previous year’s loss of £128.4m.

Despite remaining in the red, revenue for the six-month period ended 30 June 2021, improved 82% to £922.5m from £507.2m in 2020.

Gross transaction value was also up 102% to £3.38bn, despite the effects of restaurants reopening. As a result of strong operational execution, the group now covers 72% of the UK population, exceeding its previous target of 67% by the year’s end.

For the full year gross profit margin, the company said it expects to be in “the lower half” of its 7.5% to 8% range due to investments and predictions that consumer orders will fall back to pre-Covid levels.

Will Shu, founder and CEO of Deliveroo, said: “We have widened our consumer base, seen people continuing to order frequently and we now work with more food merchants than any other platform in the UK. At the same time, more riders are choosing to continue to work with the company because they value the work we offer.

“As reflected in our guidance, whilst we expect that consumer behaviour may moderate later in the year, we remain excited about the opportunity ahead and our ability to capitalise on it.”