Deliveroo to hit top end of profit guidance as Q3 revenues rise

(Sharecast News) - Deliveroo said it expects to hit the top end of full-year profit guidance after solid growth in both orders and order values in the third quarter, even as the number of active customers declined.

The takeaway delivery platform reported a gross transaction value (GTV) of £1.78bn for the three months to 30 September, up 6% on last year at constant currencies, with orders rising 2% to 71.1m and average GTV per order rising 4% to £25.

That helped company revenues increase 4% year-on-year to £498m, with UK and Ireland revenues up 4% at £308m and international revenues rising 3% to £190m.

"UKI growth remains healthy, with improving order trends and overall we are pleased with the underlying growth in International, driven by the UAE and Italy," said founder and chief executive Will Shu.

On the downside, the company saw a continued decline in average monthly active consumers to 6.9m in the third quarter, down from 7.1m in the second quarter and 7.2m in the first.

Looking ahead, Deliveroo maintained its full-year target for GTV to grow by between 5% and 9%, while adjusted EBITDA is now predicted to come in towards the upper half of the £110m-130m range.