Meal delivery company Deliveroo said it had “robust” growth in its final quarter, with gross sales on its platform up 7%, the company reported on Thursday.
The increase was driven by more orders and increased spending, and said its full-year earnings for 2024 would be towards the top of its forecast.
The UK company on Thursday said adjusted core earnings were expected to be towards the top end of its £110 - £130 million range.
Deliveroo added that it would be free cash flow positive for the year, in line with its guidance.
Previous Results
In August, the company said it had achieved the twin milestones of positive net profit and free cash flow in the first half.
This was thanks to a stabilising in customer demand, following a surge in food deliveries during the pandemic followed by a sharp fall.
At the time, chief executive and co-founder of Deliveroo Will Shu said, “We are improving profitability whilst we’re still growing.
“Orders returned to year-on-year growth and GTV (gross transaction value) momentum is good.”
Shu added that while customer sentiment was more stable, it would be a stretch to call it positive.
He said, “We’re cautiously optimistic, we see less headwinds than we did before.”
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