Deliveroo: Brits buying takeaways helps app exceed guidance
Deliveroo benefited from a surge in demand as it announced being ahead of its previously-raised profit guidance last year.
The takeaway delivery giants said in a fourth quarter update to investors, its gross transaction value (GTV) remained “resilient” with an improved trend in orders, seeing a seven per cent leap to £1.09bn in the UK and Ireland alone.
Revenues for the UK and Ireland arm were up four per cent to £310m – compared to a three per cent uptick last quarter – with overall global revenue rising one per cent.
This comes despite a previous drop in global revenue in October, when internationally it fell by seven per cent.
In August, Deliveroo upped its guidance for the year to a range of £60-80m, ahead of previous range of £20-50m, which remains unchanged.
Will Shu, founder and chief executive of Deliveroo, said: “I’m really proud of the team’s execution in Q4, including launching our retail offering.
“We delivered a good performance in UKI and saw International return to GTV growth, with encouraging trends in several markets.
“As we saw ongoing signs of stabilisation in consumer behaviour in the quarter, we continued to invest in the consumer value proposition to lay the foundations for future growth.
“We closed out a successful 2023 with GTV in line with guidance and adjusted EBITDA slightly above the top end of our guidance range.”