Just Eat revenue up by 45% in H1 2018

1st August 2018 (Last Updated August 1st, 2018 17:03)

Just Eat revenue has topped £358.4m during the first half (H1) of 2018, a 45% surge compared to £246.6m for the same period last year.

Just Eat revenue up by 45% in H1 2018
Credit: Just Eat Holding Limited.

Just Eat revenue has topped £358.4m during the first half (H1) of 2018, a 45% surge compared to £246.6m for the same period last year.

The online food delivery company also reported uEBITDA of £82.7m, a 12% increase compared to £73.6m during the same period last year.

Orders of the company were up by 30% to £104.4m in H1, compared £80.4m for the six-month period last year.

Just Eat chief executive officer Peter Plumb said: “The Just Eat Group served 24 million customers with 104 million takeaways through the group’s platforms around the world.

“The Just Eat Group served 24 million customers with 104 million takeaways through the group’s platforms around the world.”

“Our increased investments in technology, brand and delivery are on track to make our service even easier to use, whilst expanding our customer’s choice.

“I’m pleased with the strong start to the year and excited by our opportunity to help many more people enjoy more of their takeaway moments through our platforms.”

In addition, profits before tax for the company were down by 3% to £48.1m, compared to £49.5m during H1 of 2017.

Basic earnings per share (EPS) remains unchanged at £5.50, while adjusted basic EPS2 was up by 10% to £8.60 and cash generated by operations was up by 13% to £77.2m.

Furthermore, the company’s board is currently raising investment of around £50m to £60m for its long-term growth.