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Trading statements

Just Eat revenues up 46%

02 May 2017 07:26

Just Eat's reported revenues rose by 46% to £118.9m in the first quarter to the end of March.

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.

Total orders rose by 25% on a like-for-like basis to 39.0 million.

UK orders were up 17% at 24.0 million.

The group said that 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 of 15.0 million were up 38% or 43% on a like-for-like basis.

The group also reported continued progress rolling out its Orderpad restaurant platform, through the UK, Canada, Denmark, Ireland, Italy and Spain.

Interim chief executive Paul Harrison said: "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."

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