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Just Eat raises 2017 revenue guidance after strong quarter
October 31, 2017 / 7:27 AM / 19 days ago

Just Eat raises 2017 revenue guidance after strong quarter

LONDON (Reuters) - British takeaway ordering website Just Eat (JE.L) on Tuesday raised its full-year revenue guidance for the second time in four months after reporting a 47 percent increase in its latest quarter on the back of strong order growth.

Founded in 2001, Just Eat has grown rapidly, listing its shares in London in 2014.

It said revenue for the three months to Sept. 30 was 138.6 million pounds, up from 94.5 million pounds in the same period last year. Total orders rose 29 percent to 43.1 million, with the UK up 22 percent and international up 43 percent.

“It is great to see the UK business in good health and positive momentum across our international markets,” said Chief Executive Peter Plumb, the former boss of Moneysupermarket.com, who took the top job last month.

Just Eat forecast revenue for the full 2017 year of 515-530 million pounds, up from previous guidance of 500-515 million pounds.

The group retained its forecast for core earnings -- underlying earnings before interest, tax, depreciation and amortisation -- of 157-163 million pounds. It made 115.3 million pounds in 2016.

Shares in Just Eat, up 38 percent over the last year, closed Monday at 740 pence, valuing the business at 5 billion pounds.

Reporting by James Davey; editing by Kate Holton and Paul Sandle

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