Deliveroo revenues in the UK and Ireland increased to £297m in its third quarter, according to its latest trading statement.
Orders were 38.3 million in the third quarter, up 3% year on year. Group-wide, the company said GTV was up 3% year on year in the quarter in constant currency. It said orders were down 1%, which was an improving trend. In international, GTV was £671m in the third quarter, down 1% year on year in constant currency. Orders were 30.9 million in the third quarter, down 5% year on year.
The business said food price inflation was moderating. It added the GTV growth was underpinned by “further strengthening of the consumer value proposition, including expanded selection, targeted promotions and service enhancements”. Deliveroo said it was maintaining its full year guidance with GTV growth expected to be lower single digits percentage growth in constant currency and adjusted Ebitda expected to be in the range of £60m-80m.
Chief executive Will Shu said: “I’m really pleased with our results and proud of the team’s execution, especially the continued progress on service towards a seamless delivery experience. We’ve also made clear progress in promoting value within the app, which remains so important given the tough consumer backdrop. We continue to deliver strong performance in the UK and Ireland and I’m encouraged by the improving growth trends in key International markets. My confidence in our ability to drive growth and deliver on our goals for profitability and sustainable cash flow generation has never been stronger.”