Just Eat On Track After Delivering 25% Rise An Q3 Revenue

By Dave Simpson
Just Eat On Track After Delivering 25% Rise An Q3 Revenue

Just Eat has reported 25% growth in third-quarter revenue, boosted by the wider roll out of its delivery service in Britain.

The company said that it is on course to meet its full-year guidance for revenue in the range of £1 billion to £1.1 billion and underlying core earnings of £185 million to £205 million, excluding its operations in Brazil and Mexico.

Interim chief executive Peter Duffy said that Just Eat is seeing strong growth in markets including Canada, Europe and Australia.

Structural Shift In Britain

However he said that the company is seeing a structural shift in Britain, with increasing demand for broader cuisine options led by quick-service restaurant chains.

Just Eat grew by providing a platform for independent takeaways, which provided their own delivery services, before it developed its own delivery services to compete with companies such as Deliveroo and Uber Eats.

News by Reuters, edited by Hospitality Ireland. Click subscribe to sign up for the Hospitality Ireland print edition.