Takeaway delivery firm Deliveroo has posted a £245.6 million loss for the past year as people seemingly cut back on takeaways during the cost of living squeeze.. However, the operating loss for 2022 was still 15% smaller than the £290.1 million loss it recorded a year earlier.
Deliveroo also told investors on Thursday morning that profitability improved during the second half of the year, with earnings “significantly ahead of expectations”. It forecast underlying earnings growth of between £20 million and £50 million over 2023 as it continues to rein in costs to weather the tougher trading. It came as the company also revealed a 9% rise in gross transaction value to £6.8 billion – far less than its previous guidance – as orders slowed following the reopening of restaurants and pubs after lockdowns.
Will Shu, founder and chief executive officer, said: “I’m proud of our performance in the past 12 months. Our team has delivered in difficult market conditions, with continued growth and share gains in our key markets. The macroeconomic outlook for the year ahead remains uncertain, but our record in the past 12 months makes me optimistic about our ability to adapt and continue to deliver on our plans to drive profitable growth.”
