Just Eat UK delivery orders surge 733%
The group also reported triple-digit order growth in the UK for the period, contributing to its now expected 45% order growth for the full year
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Just Eat Takeaway has raised its growth guidance as delivery orders in the UK surged 733% year-on-year during the first half of FY21.
The group also reported triple-digit order growth in the UK for the period, contributing to its now expected 45% order growth for the full year.
The takeaway company has, however, predicted a global loss in its upcoming full-year results, despite seeing gross transaction value (GTV) rise 46% year-on-year to €14.1bn (£12.1bn) during H1 FY21.
The company has forecast an adjusted EBITDA of -1% to -1.5% of GTV for FY21, however, in light of fee caps and a voluntary partner support of roughly €200m (£171m) in the US and Canada.
Nonetheless, orders at the group, including its newly acquired Grubhub US arm, increased 51% year-on-year to 546.8 million for the first half of the financial year, however.
While Q2 GTV at Just Eat also jumped year-on-year, the quarter represented a slowdown in growth, rising 26% from €5.7bn (£4.88bn) in FY20 to €7.2bn (£6.16bn) the following year.
The same can be said for group orders, which rose 37% year-on-year from 203.8 million to 279.7 million.
Jitse Groen, CEO at the group, said: “We have combined Just Eat Takeaway.com and GrubHub into one of the largest online food delivery companies in the world.
“The new combination grew 51% in terms of orders in the first half year. Adjusted EBITDA losses, mainly caused by US and Canadian fee caps and our investment programme, have now peaked.”
He added: “We therefore expect the company to trend back to profitability going forward while retaining significant growth during the second half of the year.”
