Global marketplace for online food delivery, Just Eat plc has today updated the market for Q1, the three months to 31 March 2017.
Reported revenues were up by 46% to £118.9m (Q1 2016: £81.5 million). On a currency neutral, like-for-like basis, revenues grew by 40%, driven by strong order growth, last year’s commission increases, including the UK, and the inclusion of SkipTheDishes.
The company saw Total orders of 39.0 million (Q1 2016: 31.5 million), up 25% on a like-for-like basis.
UK orders were 24.0 million (Q1 2016: 20.6 million), up 17%. After taking account of both the benefits associated with the additional leap year trading day and Easter falling into Q1 2016, order growth would have been 19%.
International orders stood at 15 million (Q1 2016: 10.9 million), up 38% or 43% on a like-for-like basis.
During the period, the firm continued to roll out the Orderpad restaurant platform, through the UK, Canada, Denmark, Ireland, Italy and Spain.
Paul Harrison, Interim CEO and CFO, commented, “Just Eat has enjoyed another period of strong growth. In addition to structural market growth, we are also seeing the benefits of ongoing investments in technology and marketing. We are pleased to reiterate guidance given at our 2016 full year results on 7 March 2017, for full year 2017 revenues of between £480-495 million, and underlying EBITDA of £157-163 million.”