Just Eat raises full-year guidance, says Irish market performing well

Just Eat’s performance in Ireland remains strong the group said on Thursday as it reported a 44 per cent jump in first-half revenues to £246.6 million (€276 million) and raised its full-year guidance.

The London-listed online takeaway service, which operates in 13 markets globally, said underlying earnings before interest, taxes, depreciation, and amortisation (ebitda) were up 38 per cent to £73.6 million.

Pretax profits increased 46 per cent to £49.5 million from £33.8 million.

Just Eat upgraded its full-year guidance to between £500 and £515 million up from between £480 million £495 million. Underlying is still expected to be between £157 million and £163 million.

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The group, which earlier this month annouced former Moneysupermarket. com head Peter Plumb as its new chief executive earlier, said orders were up 24 per cent to £80.4 million.

Mobile orders

Orders via mobile devices accounted for 75 per cent of total orders.

Overall, Just Eat said it processed 80.4 million orders worth £1.5 billion for its restaurant partners globally.

The group’s international business accounts for 43 per cent of group revenues.

The company, which did not break out figures for Ireland, has over 2,000 takeaway restaurants listed for its Irish service.

Just Eat, which started in Denmark but moved to London in 2006, raised £360 million when it floated on the London Stock Exchange in 2014.

The company, launched in Ireland in May 2008 and it remains one of the biggest markets for the group.

Just Eat claims that its mobile app has been downloaded over 900,000 times locally.

The company was last week announced as the new commercial sponsor of the Dublin Bikes rental scheme.