4th Aug 2015 06:49
LONDON (Alliance News) - Just Eat PLC Tuesday reported growth in profit in the first half of 2015 and said it expects revenue for the full year to be higher than originally anticipated due to additional orders delivered by extra investment.
The FTSE 250-listed online takeaway company reported growth in pretax profit in the six months ended June 30 to GBP14.0 million from GBP8.6 million in the first half of 2014, as revenue rose to GBP107.8 million from GBP69.8 million.
Just Eat said that it increased the number of active users, takeaway restaurants and orders in the first half as it continued investment into the business.
"Our focus on driving incremental revenue by further investing in technology and marketing is expected to continue into the second half of the year, alongside additional investment into the exciting early-stage Brazilian and Mexican markets," Just Eat said in a statement.
It added that as a result of additional orders delivered by extra investment, it now expects revenue for the full year to be around GBP230 million, with revenue "over-performance" anticipated to continue into 2016.
Just Eat intends to invest an additional GBP8 million in marketing in its core markets by the end of the current year, together with a further GBP5 million into technology and its Latin American teams.
"Notwithstanding this significantly increased investment, we remain on track to deliver Ebitda for the current year in line with expectations," Just Eat said.
The company will not pay a dividend for the period as it intends to retain any earnings to "expand the growth and development of the business".
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Just Eat