Food and Drink

Just Eat Takeaway.com sees losses widen to £414m

The company’s UK profits dropped 156% to €71m (£60m) from €127m (£108m) and reflected the group’s continued fight to win online share, including increased restaurant selection and marketing

Just Eat Takeaway.com saw its losses widen for the six-month period ended 30 June 2021 to €486m (£414m) from a previous year’s loss of €59m (£50).

The company’s UK profits dropped 156% to €71m (£60m) from €127m (£108m) and reflected the group’s continued fight to win online share, including increased restaurant selection and marketing.

In order to improve profitability, the group said it will be driving growth and increasing the scale of its business as well as flexibility from the widening price gap.

Meanwhile, revenue for the period grew by 52% to €2.6bn (£2.2bn) compared with €1.8bn (£1.5bn) in 2020. This was mainly boosted by the UK which added an additional 135 million orders, representing the highest order growth in the sector.

Jitse Groen, CEO, said: “In the first six months of this year, Just Eat Takeaway.com continued to invest significantly, predominantly in the historically underinvested legacy Just Eat countries.

“Our consumer base, restaurant selection and order frequency have strongly increased, which will lead to improved profitability going forward.”

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