Economy

Just Eat plc Revenues up 47% in Q3 & 45% YTD

Just Eat plc Revenues up 47% in Q3 & 45% YTD”

British takeaway ordering website Just Eat has raised its full-year revenue guidance for the second time in four months after reporting a 47% increase in its latest quarter on the back of strong order growth.

Sales in the latest three months (to September) were 47% stronger, at £138.6mln as the pace picked up compared to earlier in the year, especially overseas.

On a currency neutral basis, revenues grew by 44 per cent.

Global orders increased by 43 per cent to 16.9 million, driven by the contribution from SkipTheDishes.

United Kingdom orders climbed 22pc to 26.2m, flattered by a weak period in 2016 when unusually warm weather encouraged consumers to eat out instead of ordering in.

JustEat also said that it was ceasing publication of its January trading update.

Looking forward JustEat said that it was raising its guidance for the full year 2017 to between £515-530m from £500-515m.

Underlying earnings [EBITDA] will be between £157-163mln as previously forecasted.

"It is great to see the United Kingdom business in good health and positive momentum across our worldwide markets, particularly in Canada where SkipTheDishes' delivery expertise and relentless focus on customer service are driving excellent results", Peter Plumb, CEO of JustEat, said. "As such, Just Eat's next market update will be its full year 2017 results on 6 March 2018".

"We will continue to invest for growth in technology, marketing and great people".



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