Food delivery specialist Deliveroo has reported growth “materially ahead of expectations” in its first half of trading, when performance proved resilient as Covid restrictions eased.
Revenues in the six month to the end of June increased 82% to £922.5m thanks to gross transaction value (CTV) more than doubling to £3.4bn, driven by an increase in monthly active consumers year on year.
Meanwhile, Deliveroo’s statutory loss before tax improved to £104.8m compared to £128.4m in 2020. Deliveroo also now has the most food merchants in the UK of all delivery platforms.
The food delivery platform said that in recent months it had not seen a material impact on orders or average order value in the UK and Ireland. Its management’s outlook for the rest of the year was “optimistic but prudent”, confident in continued year-on-year growth with an expectation that average order values will revert towards pre-pandemic levels.
Will Shu, founder and chief executive of Deliveroo, said: “We have reported strong performance in the first half of the year and continued to make good progress in executing our strategy. As a result, I believe that we are well positioned to take advantage of the huge opportunity ahead.
“We are seeing strong growth and engagement across our marketplace as lockdowns continue to ease. Demand has been high among consumers. We have widened our consumer base, seen people continuing to order frequently and we now work with more food merchants than any other platform in the UK. At the same time, more riders are choosing to continue to work with the company because they value the work we offer.
“As reflected in our guidance, while we expect that consumer behaviour may moderate later in the year, we remain excited about the opportunity ahead and our ability to capitalise on it.”