Just Eat revenue soars as mobile strategy accelerates
The world's largest mobile marketplace for takeaway, Just Eat has reported a surge of 58 per cent in revenue to £69.8m for the six months ended 30 June.
The company, which recently floated, also enjoyed a boost of in pre-tax profits to £8.6m compared with £3.1m in the same period the previous year. Orders were up a massive 50 per cent, with users increasing by 35 per cent to 6.9m.
David Buttress, chief executive officer, commented:
I am delighted with our excellent progress across the business in the first six months of 2014. Revenue has grown 58 per cent on the same period last year to £69.8m, we have significantly improved profitability and continued to deliver strong cash conversion.
We are accelerating our mobile strategy across all our geographies and in the UK over 56 per cent of orders are already being placed via apps or through a mobile device.
The newly listed firm was bullish on its future prospects, citing the what the company sees as its inherently strong operational leverage.
Just Eat said it would remain focused on both the core takeaway delivery market and the "untapped collection/ pick-up space".