Just Eat announces 30% increase in first half-year orders
Global online restaurant delivery company Just Eat has reported a 30% increase in orders in the six months to 30 June 2018.
First half-year revenue for the business was also up 45% to £358.4m, while pre-tax profit was down 3% to £48.1m partly due to the costs associated with the acquisition of rival Hungryhouse for £200m in December 2016. EBITDA was up 12% to £82.7m.
Revenue in the UK increased by 30%. Orders made by the group's app increased to 54%, compared to 46% during the same period in 2017.
Peter Plumb, chief executive of Just Eat, said he was pleased with the "strong start to the year" which saw 24 million customers served with 104 million takeaways. "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."
Confidence in Just Eat's current performance has led the group to raise investment for long term growth from £50m to £55-£60m. The forecast for revenue by the end of in 2018 is also increased from £660-£700m to £740-£770m.
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