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Just Eat revenues up 52% in full year results
07/03/2017 - 08:21
Just Eat’s revenues increased 52% to £375.7 million and underlying EBITDA was up 93% to £115.3 million for the year ended December 31st 2016.
Written by Andrew McClean
The online delivery marketplace reports that orders were up 42% to £136.4 million and processed orders were worth over £2.5 billion for its restaurant partners, up from £1.7 billion in 2015.
The number of active users increased 31% to 17.6 million and the number of orders placed via mobile devices grew, rising to 73% of group orders from 66% in 2015.
David Buttress, chief executive officer, said: “2016 was an important year operationally, positioning the business very positively for the future.
“We continued to invest in our technology, brand and people to expand the choice we offer consumers and the benefits we deliver to our restaurant partners.
“Our markets remain relatively under-penetrated, meaning there is considerable runway to generate sustainably profitable growth across the business.”
The proposed acquisition of hungryhouse in the UK was also announced in December, and remains subject to approval by the Competition and Markets Authority.
UK revenues grew 40% to £237.1 million and underlying EBITDA grew 57% to £121.8 million from £77.6 million.