The takeaway delivery giant said UK and Ireland sales by gross transaction value (GTV) rose by 9%, or 6% on a constant currency basis, to 3.4 billion euros (£2.9billion) in the first half of 2024
Brits spending more on takeaways have contributed to Just Eat recording its best UK sales performance in three years.
The takeaway delivery giant reported that gross transaction value (GTV) sales in the UK and Ireland increased by 9%, or 6% on a constant currency basis, to 3.4 billion euros (£2.9billion) in the first half of 2024. This marks Just Eat’s best performance in the region since 2021, although some of this was driven by higher food price inflation, with the average order value increasing to 29.71 euros (£25.03) from 28.57 euros (£24.07) a year ago.
This helped balance a slight dip in order numbers, down to 120 million in the first half from 121 million a year earlier, while lower delivery costs per order also boosted underlying earnings in the UK and Ireland by 64% to 92 million euros (£78million). Just Eat had seen order numbers in the UK and Ireland return to growth in the first quarter.
Order numbers have been under pressure as customer demand for takeaways has significantly decreased since the pandemic. The UK and Ireland business outperformed the group’s other global divisions, with challenging trading conditions in North America and Europe impacting group revenues.
Overall, total revenues were slightly down by 1% to 2.6 billion euros (£2.2billion), but Just Eat saw a 42% increase in underlying earnings to 203 million euros (£171million). On a bottom line basis, Just Eat reported pre-tax losses widening to 363 million euros (£306million) from 317 million euros (£267million) a year ago.
Just Eat’s founder and chief executive, Jitse Groen, remarked that the boost in sales by GTV was “driven by growth of our partner base, expansion of our delivery coverage and significant technological advancements”. He said: “We are well on track to achieve our guidance for the full year.”
