Friday 30 September 2016

Online takeaway firm delivers 54pc rise in revenue

Published 05/08/2015 | 02:30

Amanda Roche Kelly, country manager for Ireland, uses the justeat.ie app
Amanda Roche Kelly, country manager for Ireland, uses the justeat.ie app

Online takeaway ordering company Just Eat posted a 54pc revenue jump in the first half of 2015, taking in £107.8m (€153.5m).

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The company, which now has 11 million active users, took 41.9 million orders in the period, a 52pc rise on the same period last year. Underlying earnings before interest, taxation, depreciation and amortisation (EBITDA), came to £25.8m (36.7m) - a 62pc rise on 2014.

Just Eat chief executive David Buttress said the company had "seen the success of [its] ongoing strategy to reinvest profits above target to drive additional growth".

"I am particularly pleased to see the results of our mobile strategy which has already created a much improved experience for our app and mobile users.

"We have acquired market-leading operations in three new rapidly growing markets of scale: Mexico, Australia and New Zealand," he added.

In Ireland the company has over 1,700 takeaway restaurants online and had over 750,000 active users in 2014.

Last year it received over two million orders here - a 58pc jump on 2013.

Buttress said the company would invest further in technology and marketing, and also pump additional investment into its operations in Brazil and Mexico.

"As a result of the additional orders delivered by this extra investment, management now expects revenue for 2015 of around £230m, with such revenue over-performance expected to continue into 2016," he said.

"By the end of the current financial year, we intend to invest an additional £8m in marketing in our core markets, together with an additional £5m of investment into technology and our Latin American teams.

"Notwithstanding this significantly increased investment, we remain on track to deliver EBITDA for the current year in line with expectations."

Irish Independent

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