Just Eat's 'expectations unchanged' following strong 2019 results

London-headquartered Just Eat plc has revealed its full year 2019 results with ‘unchanged expectations’.

Today (October 21), Just Eat has update the market on its performance to September 30, 2019.

Group revenue for the food delivery service company stands at £248m, an increase of 25 per cent. Group orders are also up 16 per cent, standing at 62 million.

The company’s UK orders increased by eight per cent to 33 million, said to be driven by ‘huge’ growth in its delivery proposition. Meanwhile, Just Eat’s European order growth was strong, too, particularly in Italy and Spain with new brand partnerships.

The board is said to be reconfirming its guidance for full year 2019 revenue in the range of £1bn to £1.1bn and uEBITDA in the range of £185m to £205m.

Peter Duffy, interim CEO of Just Eat, concluded: “We are seeing strong growth in many of our markets, including Canada, Europe and pleasingly Australia.

“Our UK marketplace business is a strong and clear leader; however, we are seeing a structural shift, with increasing demand on our platform from customers for broader cuisine choice and more meal occasions, led by quick service restaurant chains.

“The strong growth in our UK delivery business shows that we can successfully meet these needs. We remain on track to deliver our full year 2019 revenue and uEBITDA guidance.”

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