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Just Eat reports soaring profits

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Just Eat has reported a soaring hike in their annual revenue and profit, revenue grew 43% to £779.5m in 2018, boosted by growth in the UK and Canada.

Underlying earning were up 6% to £173.9m in the year to 31 December 2018, and pre-tax profits were £101.7m compared to £76m loss in 2017.

Peter Duffy, the interim boss said,“We have a clear plan for the year ahead as our highly experienced team works hard to accelerate the execution of our strategy and we remain focused on long-term returns for shareholders.”

Just Eat Canadian firm, SkipTheDishes saw revenue rise 186%.

The food delivery service is expecting revenue to some in between £1bn and £1.1bn next year.

Duffy added, “We are creating a leading hybrid offering founded on our unrivalled marketplace, combined with the targeted roll-out of delivery.

“This gives our growing customer base access to the greatest choice of restaurants and drives even more orders to our restaurant partners, ultimately strengthening the network effects of our business.”




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