Just Eat's revenue increases by 44%
The company raises its revenue guidance for almost £515 million this 2017.
Its financial highlights include the rising of EBITDA by 38%, orders exceeding its 64.9 million total in H1 2016 to 80.4 million, and like-for-like orders increasing by 25%.
Just Eats is said to be continuing its strong momentum across our international markets, including SkipTheDishes in Canada, and has reportedly processed orders worth £1.5 billion for its restaurant partners up 36% with £1.1 billion in H1 2016. The increase of orders made thru mobile devices are accounted for 75% of total orders from 70% in H1 2016.
Andrew Griffith, interim chairman, said, “This has been another excellent period of progress with revenues, profits and earnings all showing strong growth and once again demonstrating the strength of our business model. I would particularly like to commend the Interim Chief Executive Officer, Paul Harrison, and the entire team at Just Eat for their hard work and focus at a time of significant change in senior leadership.
Today’s results, the recent appointment of Peter Plumb as Chief Executive Officer and the very substantial headroom for further growth in all of our territories mean that we are exceptionally well-placed as we enter the second half of the year.”
Paul Harrison, interim chief executive officer and chief financial officer, commented, “Just Eat’s marketplace connects millions of consumers to thousands of restaurants. The success of our business model is based on delivering ever-greater choice and convenience to customers, while bringing more benefits and services to our Restaurant Partners. We are pleased to see our continued investment in technology and marketing add value to both sides of this marketplace, which is reflected in the strong start we have made to 2017.
Our largest competitor remains the telephone in every market where we operate. However, we continue to drive channel shift and are pleased that 75% of total orders are now placed on mobile devices. In the UK, we have seen increased traffic to our website and improved consumer reorder rates, demonstrating the strength of our brand loyalty. Our international businesses, now 43% of Group revenues, have enjoyed further good momentum. In particular, the acquisition of SkipTheDishes has generated revenues above expectations and consolidated our market-leadership in Canada.”
Photo credit: venturethree
