Just Eat grows in Q1 with UK orders rising by 7.4%

Online food delivery group, Just Eat plc has today posted results for the three months to 31 March 2019 (Q1).

Reported group orders increased by 21% to 61.4 million in Q1 on a like for like basis, driven by continued marketplace leverage and an acceleration of delivery initiatives. Group revenues increased by 28% year-on-year to £227.9m

UK orders increased by 7.4% to 31.9 million. Q1 growth was impacted by three factors: a strong comparator, including Hungryhouse before integration and expected attrition of their customer base; the unseasonably warm weather in February; and Easter falling entirely in Q2 this year.

The company said it would expect an improvement in UK order growth during the remainder of the year.

Outside the UK, orders grew by 40% to 29.5 million, fuelled by good growth in Canada, Italy, Switzerland and Ireland. Canada continues to be the standout performer delivering strong growth in the period.

The firm reiterates its guidance of full year 2019 revenue in the range of £1bn to £1.1bn and uEBITDA in the range of £185m to £205m (both excluding Brazil and Mexico).

Peter Duffy, Interim CEO commented, 'Just Eat is on the right path to be the leading hybrid marketplace for online food delivery and we are confident in the delivery of our strategy. Many of our international markets have performed very well in the period although, as expected, we saw softer UK order growth in the quarter. We are making good progress and continue to execute at pace.'