Deliveroo cuts losses

Deliveroo narrowed its pre-tax losses by almost a fifth to £104.8 million (€123.5m) in the first half as revenue rose 82 per cent to £922.5 million and orders doubled, the food delivery company said in its first results since March’s initial public offering.

The London-based company delivered 148.8 million meals and groceries in the first six months of 2021, twice as many orders as in the same period a year ago. Monthly active consumers increased 81 per cent year-on-year to 7.8 million people.

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While food delivery services have been a big beneficiary of pandemic lockdowns, Deliveroo said it had seen “no material impact” from the UK lifting most of its Covid-19 restrictions.
 
“The growth momentum in the second quarter is still really strong,” said Will Shu, chief executive and co-founder of Deliveroo. Increased grocery orders and the Euro 2020 football championship had boosted growth, he added. “We had a great first half.”

Gross transaction value, which measures customer spending, rose 110 per cent in the UK compared with the first half of last year. The company’s UK expansion is “well ahead” of its target, and its services can now reach 72 per cent of the population. 

REF: hospitalityenews.ie