Just Eat raises full-year forecast after third-quarter revenues rise

The takeaway ordering firm expects full-year revenue of £515-530m 

James Davey
Tuesday 31 October 2017 09:00
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Founded in 2001, Just Eat is now valued at £5bn
Founded in 2001, Just Eat is now valued at £5bn

Takeaway ordering website Just Eat on Tuesday raised its full-year revenue guidance for the second time in four months after reporting a 47 per cent increase in its latest quarter on the back of strong order growth.

Founded in 2001, Just Eat has grown rapidly, listing its shares in London in 2014.

It said revenue for the three months to 30 September was £138.6m, up from £94.5m in the same period last year. Total orders rose 29 per cent to £43.1m, with the UK up 22 per cent and international up 43 per cent.

“It is great to see the UK business in good health and positive momentum across our international markets,” said chief executive Peter Plumb, the former boss of Moneysupermarket.com, who took the top job last month.

Just Eat forecast revenue for the full 2017 year of £515-530m, up from previous guidance of £500-515m.

The group retained its forecast for core earnings -- underlying earnings before interest, tax, depreciation and amortisation -- of £157-163m. It made £115.3m in 2016.

Shares in Just Eat have increased by 38 per cent over the last year, with the business currently valued at £5bn.

Click here for Just Eat discount codes

Reuters

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