Deliveroo: UK orders pass £1bn mark as takeaway giant remains upbeat about 2023
Quarterly orders on Deliveroo in the UK and Ireland passed the £1bn mark for the first time at the end of last year, the takeaway giant reported today, adding that it was confident about the year ahead despite much economic uncertainty.
The food delivery company reported a seven per cent increase in gross transaction value globally for 2022, rising to £6.85bn, while the gross transaction value for its UK and Irish business was up nine per cent for the year to £3.8bn.
For the last three months of 2022, the global gross transaction value rose nine per cent to £1.795bn, and jumped by the same amount in the UK and Ireland, reaching £1.03bn – passing the £1bn pound mark for the first time in its near 10-year history.
It also said its full year profitability was ahead of previous guidance, which it said was “driven by gross profit margin expansion and cost control.”
Despite improved profitability, Deliveroo reported its orders globally were down for the final three months of last year, falling by two per cent from 76.8m to 75.1m orders.
Order numbers in the UK and Ireland for the same period rose marginally from 40.4m to 40.6 m.
But gross transaction value per order, both globally and in the UK and Ireland, was up eight per cent, as price inflation lifted gains.
“I am proud of the team delivering significant improvements in profitability whilst also still delivering growth in a difficult macroeconomic environment”, said Will Shu, founder and CEO of Deliveroo.
“Amidst an uncertain outlook for 2023, we remain confident in our ability to adapt financially and to make continued progress on our path to profitability,” Shu said.
Deliveroo’s share price rose sharply this morning on the news, but fell back in the early afternoon.
The firm’s quarterly results come after it decided to shut up shop in Australia and the Netherlands.