Just Eat sees revenue rise 45% in half yearly reports

Just Eat

Online food order and delivery service Just Eat has released its half yearly financial reports, showing a 45% revenue increase.

Compared with the same period last year, revenue went up from £246.6m to £358.4m.

The number of orders received by Just Eat also saw a dramatic increase. Orders rose from 80.4m to 104.4m, an increase of 30%.

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However, the company’s profit, before tax, fell by 3%, meaning profit so far this year is £48.1m, a drop from £49.5m at the same point last year.

The report described how this figure incorporates costs associated with the acquisition of Hungryhouse.

Peter Plumb, CEO, said: “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.”

The report has been released just weeks after Just Eat announced a recruitment initiative to hire 150 tech specialists with an aim to ‘turbo-drive’ the business and dominate the sector.

The investment will significantly increase the size of Just Eat’s UK tech and product teams, with 80 new roles, and represents the platform’s largest recruitment drive in three years.

The newly-created roles span all levels – from entry level to highly experienced – and include associate engineers, principal engineers and technology managers.

Operationally, with Hungryhouse successfully migrated, UK revenue is up 30%, Canadian revenue is up 212%, driven by a strong performance from SkipTheDishes, a company that Just Eat merged with in 2016, while Australian revenue is down 8%.

Orders via the app have accounted for 54% of total orders this year so far, up from 46% this time last year.

Tags : Financial ResultsJust Eat
Alex Douglas

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