1st Mar 2016 07:50
LONDON (Alliance News) - Just Eat PLC on Tuesday reported a fall in profit in 2015 as an exceptional gain in the prior year was not repeated, but revenue grew on a rise in active users and order volumes.
The online takeaway delivery service said its pretax profit in 2015 fell to GBP34.6 million from GBP57.4 million in 2014, even though revenue grew by more than half to GBP247.6 million from GBP157.0 million.
Just Eat said revenue was boosted by a 65% increase in active users to 13.4 million from 8.1 million, and a 57% rise in order volumes to 96.2 million from 61.2 million, led by a shift towards mobile transactions.
Pretax profit was lower, however, as the prior year benefited from a GBP38.2 million gain relating to control change in the French and Brazilian businesses. This did not repeat in 2015, but underlying earnings before interest, tax, depreciation and amortisation did grow by 83% to GBP59.7 million from GBP32.6 million.
"Strong trading momentum has continued into 2016. Investment for growth in areas such as technology, marketing and people will continue and, as a result, the board expects 2016 revenues of GBP350 million and underlying Ebitda of between GBP98-100 million at current exchange rates," Chief Executive David Buttress.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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