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Delivery Hero second-quarter orders surge during lockdowns

BERLIN (Reuters) - German online takeaway food company Delivery Hero DHER.DE reported a near-doubling of orders in the second quarter as lockdowns due to the coronavirus crisis prompted people to order meals from home, sending its shares to a record high.

The Berlin-based company, which runs platforms for food delivery in 44 countries, said second-quarter orders rose 94% to 280 million euros (£252.33 million) compared to 144 million a year earlier.

In June, despite easing of lockdown restrictions in some countries, order growth was up 104%.

In Asia, the company’s largest market, orders almost quadrupled to 157 million euros. Orders increased by 46% in Europe and were up 111% in the Americas.

In the Middle East and North Africa region, orders fell 6%, hurt by ongoing curfews in Kuwait and Jordan.

Jefferies analysts described the acceleration in order growth as “remarkable”, while analysts at Bankhaus Lampe said they believed the third quarter would also be very strong.

By 0801 GMT shares had jumped 5.3% to 103.15 euros, a record high.

Delivery Hero is due to report its final results on July 28.

Reporting by Caroline Copley; Editing by Maria Sheahan

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