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Just Eat Plc (JE.)

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Tuesday 02 May, 2017

Just Eat Plc

Q1 2017 Update

RNS Number : 8008D
JUST EAT plc
02 May 2017
 

 

 

2 May 2017

Just Eat plc

("Just Eat", the "Company" or the "Group")

 

Q1 2017 Update

Strong performance; reiterating full-year guidance

 

Just Eat plc (LSE: JE.), a leading global marketplace for online food delivery, today updates the market for the three months to 31 March 2017 ("First Quarter" or "Q1").

 

Highlights include:

●     Reported revenues were up 46% to £118.9 million (Q1 2016: £81.5 million).

●     On a currency neutral, like for like1 basis, revenues grew by 40%, driven by strong order growth, last year's  commission increases, including the UK, and the inclusion of SkipTheDishes.

●     Total orders of 39.0 million (Q1 2016: 31.5 million), up 25% on a like for like1 basis.

●     UK orders were 24.0 million (Q1 2016: 20.6 million), up 17%. After taking account of both the benefits associated with the additional leap year trading day and Easter falling into Q1 2016, order growth would have been 19%.

●     International orders of 15.0 million (Q1 2016: 10.9 million), up 38% or 43% on a like for like1 basis.

●     Continued progress rolling out our Orderpad restaurant platform, through the UK, Canada, Denmark, Ireland, Italy and Spain.

 

Paul Harrison, Interim CEO, and CFO commented:

"Just Eat has enjoyed another period of strong growth. In addition to structural market growth, we are also seeing the benefits of ongoing investments in technology and marketing. We are pleased to reiterate guidance given at our 2016 full year results on 7 March 2017, for full year 2017 revenues of between £480-495 million, and underlying EBITDA of £157-163 million."

 

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Enquiries:

Just Eat

+44 (0)20 3667 6900

Paul Harrison, Interim CEO, and CFO

Adam Kay, Head of Investor Relations

 

Brunswick Group LLP

+44 (0)20 7404 5959

Sarah West, David Litterick, Chris Buscombe

 

 

Forward looking statements:

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, forward-looking statements involve risk and uncertainty since they relate to future events and circumstances. Actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations or to reflect events or circumstances after the date of this announcement.

 

About Just Eat:

Just Eat plc operates a leading global marketplace for online food delivery. Headquartered in London, we use proprietary technology to offer a quick and efficient digital ordering service for 18.2 million users and 71,000 takeaway restaurants. Just Eat is a member of the FTSE 250 Index.

 

 

[1] Like-for-like growth excludes orders from our Benelux business, which was sold on 2 August 2016.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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