3rd Nov 2015 07:49
LONDON (Alliance News) - Just Eat PLC Tuesday increased its revenue guidance for 2015 following order growth that was ahead of management expectations in the third quarter.
The online takeaway company said orders in the three months ended September 30 grew 64%, or 48% on a like-for-like basis, as its strategy of ongoing investment in technology and marketing delivered order growth ahead of expectations.
In the nine months to the same date, orders rose 57%, or 47% on a like-for-like basis.
In the UK, orders were up 50% year-on-year, which Just Eat said also benefited from poor weather over the summer.
As a result of its better-than-expected results, Just Eat has increased its revenue expectations for the full year to slightly above GBP240.0 million, up from the GBP230.0 million guidance issued in August. Earnings before interest, tax, depreciation and amortisation remain on track for the full year and in line with current expectations as the company continues to invest in areas such as customer experience.
"Just Eat delivered a strong quarter of organic order growth. Our strategy of investing in technology and marketing to drive growth has delivered orders ahead of management expectations with an acceleration in order momentum. In the context of this performance, we are raising our revenue guidance for the full year," Chief Executive David Buttress said in a statement.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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