October 21, 2019 / 6:53 AM / 2 months ago

Just Eat on track after delivering 25% rise in third-quarter revenue

LONDON (Reuters) - Just Eat (JE.L), the takeaway food platform that agreed to merge with Takeaway.com (TKWY.AS) in August, reported 25% growth in third-quarter revenue on Monday, boosted by the wider roll out of its delivery service in Britain.

The company said it was on course to meet its full-year guidance for revenue in the range of 1.0 billion to 1.1 billion pounds and underlying core earnings of 185 million to 205 million pounds, excluding its operations in Brazil and Mexico.

Interim chief executive Peter Duffy said Just Eat was seeing strong growth in markets including Canada, Europe and Australia.

He said, however, the company was seeing a structural shift in Britain, with increasing demand for broader cuisine options led by quick-service restaurant chains.

Just Eat grew by providing a platform for independent takeaways, which provided their own delivery services, before it developed its own delivery services to compete with companies such as Deliveroo and Uber Eats.

Reporting by Paul Sandle; Editing by Toby Chopra

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