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(Il Sole 24 Ore Radiocor) – Deliveroo is celebrating in style London Stock Exchangeafter reporting its first half-year accounts to be profitable and cash flow positive. Shares of the UK restaurant and grocery delivery platform surged, leading the gains The trend since the beginning of the year is also positive. When the index FTSE 100 Meanwhile, it is at a loss. In the first six months of 2024, Deliveroo made a net profit of £1.3 million, compared with a loss of £82.9 million in the same period last year, with turnover rising 1% to £1.03 billion. Adjusted Ebitda rose 57% to $61.7 million, thanks to “efficiencies” in staffing, delivery costs and marketing. Gross merchandise value rose 5% to £3.7 billion, equivalent to an increase from £24.2 to £25 per order. Free cash flow was positive at $3.2 million for the half year, compared with $27.7 million last year.
«I am very happy with the results I have achieved this semester, thanks to Our initiatives for growth and profitabilityAs a result, we achieved two milestones: positive cash flow and positive profit for half a year.” Shu Wei, CEOco-founded the company in 2013, adding: “It’s clear that there is a lot of room for growth in our industry.”The external environment continues to be uncertain.The CEO said the group was “optimising the service it provides to consumers, riders and sellers”. The group made it clear that it had £662m of available funds, down 30% on last year, and that its decision to buy back shares for £150m “reflects financial progress and confidence in its outlook”. Improved 2024 guidance Regarding adjusted Ebitda, the indication is that the result is expected to be in the upper part of the forecast range of GBP110-130 million. The growth outlook for gross merchandise value remains unchanged (+5-6%).
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