Deliveroo serves up strong UK performance in Q3

Deliveroo revenues in the UK and Ireland increased to £297m in its third quarter trading statement.

Revenues increased 7% year-on-year, while order numbers rose 3% in the three-month period ending 30 September 2023.

Q3 gross transaction value (GTV) up 5% year-on-year (YoY) in constant currency across the business, while UK and Ireland GTV increased 9%.

Robust trading in the UK drove momentum for the business, while the company said its international arm (which serves markets including Belgium, France, Hong Kong, Italy, Ireland, Kuwait, Qatar, Singapore and the UAE) is still improving.

Will Shu, founder and CEO of Deliveroo, said: "I'm really pleased with our results and proud of the team's execution, especially the continued progress on service towards a seamless delivery experience.

"We've also made clear progress in promoting value within the app, which remains so important given the tough consumer backdrop. We continue to deliver strong performance in UKI and I'm encouraged by the improving growth trends in key International markets. My confidence in our ability to drive growth and deliver on our goals for profitability and sustainable cash flow generation has never been stronger."

The business expects its full year results to report adjusted EBITDA in the range of £60-80 million.