Financial News

  • 13 August 2014, 9:08

Just Eat Delivers Tasty Results As Profit Triples

Just Eat's profit almost tripled in the first half of the year as the online takeaway service added thousands of restaurants to its books.

The company saw its pre-tax profit rise from 3.1m to 8.6m in the six months to the end of June.

It also reported a 58% increase in its revenue, which amounted to 69.8m.

It comes as Just Eat expanded its portfolio of restaurant tie-ups by 4,400, meaning it now has a total of 40,800 outlets on its books.

Orders through Just Eat rose by 50% to 27.5m, with half of those being made using mobile devices.

Chief executive David Buttress said: "We are accelerating our mobile strategy across all our geographies and in the UK over 56% of orders are already being placed via apps or through a mobile device.

"Our growing network of more than 40,000 restaurant partners combined with 6.9m active users provides further momentum to fuel our expansion through the remainder of 2014 and beyond."

Just Eat operates in 13 countries with Britain and Denmark being its biggest markets.

The results are the company's first since it floated on the London stock market in April, with a valuation of 1.55bn.

Following the announcement of its half year results it became one of the FTSE 250's top risers on the day as shares soared by more than 10%.

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