Saturday 21 September 2019

Deliveroo delivers with profit increase

Photo: PA
Photo: PA
Ellie Donnelly

Ellie Donnelly

REVENUES at the Irish arm of online food delivery company Deliveroo surged by more than 80pc to €9.2m in 2018.

Profit at the group, which operates in Dublin, Cork, Limerick and Galway, increased by almost 17pc to €1.2m.

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Founded in 2013 by former investment banker Will Shu, and based in London, Deliveroo currently works with more than 1,200 restaurants and has more than 1,000 delivery riders here.

Michael Healy, Deliveroo general manager for Ireland, said that the company was "going from strength to strength in Ireland, serving more and more people the food they want when and where they want it".

He added that Ireland is seen as a "vital market" for the company.

"We will continue to invest, innovate and improve our offering for consumers," Mr Healy said.

Over the coming months Deliveroo said it is aiming to increase the choice of restaurants on its platform.

Globally, the company now works with 80,000 restaurants and 60,000 riders across 13 markets including the UK, Australia, France and Singapore.

In its most recent set of group accounts, worldwide sales grew to £277m (€305m) for the year to December 31, 2017, a jump of 116pc on 2016.

Meanwhile gross profit jumped to £63.4m (€69.8m) at year-end 2017, from £1.1m (€1.2m) the previous year.

Earlier this year, Amazon led a $575m funding round into Deliveroo.

The company recently said it would pull out of Germany, Europe's largest economy after scaling back its business there.

Irish Independent

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