LONDON (Alliance News) - Just Eat PLC on Thursday reported double digit revenue growth for the third quarter and said that revenue for 2018 is expected to be at the top end of GBP740 million to GBP770 million guidance range.
The FTSE 100-listed online takeaway marketplace also said that underlying earnings before interest, taxes, deprecation and amortisation for the year is predicted at the lower end of GBP165 million to GBP185 million guidance range.
The company attributed its earnings expectations to investments in Latin American markets and delivery initiatives.
For the three months to the end of September, the company's reported revenue increased 41% to GBP195.3 million from GBP138.6 million the year before, driven by strong order growth of 27% to 54.7 million from 43.1 million.
In the UK, orders increased by 16% to 30.3 million from 26.2 million, while Canadian food delivery business SkipTheDishes saw high growth during the period with the launch of multi-language capabilities and expansion within Canada into Quebec.
"The group has delivered another strong quarter as we helped our 97,000+ restaurant partners serve over 54 million takeaways to millions of hungry customers. Our increased investments in delivery, brand and data are already taking the Just Eat brands to more customers, making it easier for them to order from a widening choice, ensuring their takeaway moments are even more enjoyable," said Chief Executive Peter Plumb.
Shares in Just Eat were up 1.9% at 619.20 pence on Thursday.
