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October 22, 2019

Just Eat reports £247.5m group revenue in third0-quarter for 2019

Online food delivery platform Just Eat has reported revenue growth of 25% to £248m in the third quarter (Q3) of 2019.

Online food delivery platform Just Eat has reported revenue growth of 25% to £248m in the third-quarter (Q3) of 2019.

The company’s group orders saw a 16% increase to 62 million, including an 8% rise in its UK orders to 33 million.

According to the company, the increase in orders was due to growth in its delivery proposition ‘offset by slower growth in marketplace business’.

The company also reported positive growth in European orders, which was supported by ‘strong performance’ in Italy and Switzerland and ‘new brand partnerships’ in Spain.

In addition, Just Eat’s Canadian food delivery business ‘SkipTheDishes’ reported double-digit growth during the quarter, while iFood business reported more than 21 million orders in September.

The company also noted that its Australian business posted double-digit-order growth during the period.

Just Eat interim CEO Peter Duffy said: “We are seeing strong growth in many of our markets, including Canada, Europe, and pleasingly Australia, where we are starting to reap the benefits of our turnaround plan.

“Our UK marketplace business is a strong and clear leader; however, we are seeing a structural shift, with increasing demand on our platform from customers for broader cuisine choice and more meal occasions, led by quick-service restaurant chains. The strong growth in our UK delivery business shows that we can successfully meet these needs.

“The winning platform for food delivery will offer customers the broadest range, underlining the importance of our move to the hybrid business model and continuing investments in key markets.”

Furthermore, Just Eat announced a recommended all-share combination with to create a major food delivery business during the quarter. The deal is expected to close at the end of this year.

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