Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Technology

Deliveroo Sees Revenue Up 4% In First Quarter

By Steve Wynne-Jones
Share this article
Deliveroo Sees Revenue Up 4% In First Quarter

Food delivery firm Deliveroo has reported a 4% increase in revenue in the first quarter of its financial year, which it described as a 'resilient performance'.

Gross transaction value (GTV) was down 1% year-on-year in the quarter.

Deliveroo said that growth improved through the quarter, with revenue growth outpacing GTV growth.

The firm said that this was driven by the annualised impact of consumer fee optimisation during 2022 and a growing contribution from advertising revenue.  GTV per order was up 8% in constant currency, reflecting the continued impact of food price inflation.

Regional Performance

Deliveroo reported a strong performance in the UK and Ireland (UKI) region, with revenue and GTV up 11% and 6% in constant currency, respectively.

ADVERTISEMENT

However, its international business found the going tougher, with revenue and GTV down 5% and 9% in constant currency, respectively.

This year-on-year decline was driven by more stringent COVID-related restrictions in Asian markets in early 2022, which made for a tougher comparison base, and continued market-wide weakness in France.

Read More: European Food Delivery Shapes Up With Getir's Gorillas Buy

'Challenging Comparison Base'

"Revenue growth of 4% and broadly flat GTV (both in constant currency) represents a resilient performance, particularly in the context of inflationary pressures and the ongoing cost of living crisis and against a challenging comparison base," commented Will Shu, Deliveroo chief executive.

ADVERTISEMENT

"Against this backdrop, I'm particularly pleased with our performance in UKI, reflecting a further improvement in our offering to consumers. We remain confident in our ability to deliver on our plans to drive profitable growth and sustainable cash generation."

Read More: Deliveroo To Quit Dutch Market On 30 November

© 2023 European Supermarket Magazine – your source for the latest technology news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.