Food and Drink

Deliveroo swings to £232m loss in 2018

Deliveroo has reported losses before tax of £232m for 2018, despite a 72% increase in sales to £467m during the year.

Deliveroo said it invested “heavily” in new markets during the period, including Taiwan and Kuwait, adding the sales growth was largely due to the food delivery firm increasing the number of towns it offers its services to.

It also launched its new marketplace feature, which enables restaurants with their own delivery fleet to access customers through Deliveroo, and added it plans to add another 50 UK towns and cities to its portfolio in 2019.

Will Shu, the co-founder and chief executive of Deliveroo, said: “Deliveroo is growing from strength to strength and expanding across our markets as more and more people want amazing food delivered straight to their door.

“We’re focused on our mission of becoming the definitive food company and we’ve continued to invest heavily in expansion, technology and new products to meet this ambition.”

Earlier this year, the Competition and Markets Authority (CMA) put Amazon’s Deliveroo deal on hold as the regulator said it believed it could “result in Amazon and Deliveroo ceasing to be distinct”.

In May, Amazon led a $575m (£450m) investment round in the food delivery app raising a $1.53bn (£1.2bn) total.

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