21st Apr 2020 11:35
(Alliance News) - Food delivery marketplace Just Eat Takeaway.com NV on Tuesday reported its UK arm Just Eat had order growth in the first quarter of the year, recovering from a mid-March "dip".
The update reports solely on trading by Just Eat, and does not include Dutch business Takeaway.com.
Just Eat PLC and Takeaway.com NV merged earlier this year. Takeaway.com won a bidding war for Just Eat in January, beating off Johannesburg- and Amsterdam-listed media and internet investor Prosus NV.
Just Eat processed 65.3 million orders in the three months to March 31, up 6.4% from 61.4 million in the year prior.
"All segments were growing in line with expectations until government restrictions to limit the spread of the coronavirus were put in place. After an initial reduction of orders mid-March, Just Eat recovered quickly to above before-coronavirus order numbers. Only the Europe segment, which includes countries such as Italy, France and Spain, hasn’t fully recovered," Just Eat Takeaway.com explained.
Earlier in April, the newly-merged company reported trading figures for Takeaway.com alone.
For the quarter ended March 31, Takeaway.com said orders jumped 50% to 46.7 million from 31.1 million in the first quarter of 2019. The Dutch firm said as a result of government measures banning dine-in service, it experienced an increase in applications during the period from restaurants attempting to compensate for the loss of earnings from dining-in.
Chief Executive Jitse Groen said on Tuesday: "We are thrilled that Just Eat's businesses have performed so well in the first quarter of 2020. More excitingly though, the temporary impact of the coronavirus in March, with Just Eat's recovery following the same trajectory as Takeaway.com, underlines the strong positions in our most important markets. This is a fantastic basis to start our journey as Just Eat Takeaway.com."
Trading numbers were reported separately after the UK's Competitions & Markets Authority required the two businesses to be run independently, whilst it probed the merger.
Last Thursday, the monopoly regulator said it has now lifted the enforcement, meaning the recent food delivery tie-up is free to begin its integration.
Shares in Just Eat Takeaway.com were 0.2% higher at 7,914.00 pence each in London on Tuesday morning.
By Eric Cunha; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
Just Eat Takeaw