JUST EAT plc Q3 2017 Update (0285V)
October 31 2017 - 2:00AM
UK Regulatory
TIDMJE.
RNS Number : 0285V
JUST EAT plc
31 October 2017
31 October 2017
Just Eat plc
("Just Eat", the "Company" or the "Group")
Q3 2017 Update
Strong Q3 performance; increased full year revenue guidance
Just Eat plc (LSE: JE.), a leading global marketplace for online
food delivery, today updates the market on its performance over the
three and nine months to 30 September 2017 ("Third Quarter" or "Q3"
and "Year-to-date" or "YTD" respectively).
2017 Q3 YTD
--------------- ----------------- -----------------
Group revenue GBP138.6 million GBP385.2 million
--------------- ----------------- -----------------
Growth 47% 45%
--------------- ----------------- -----------------
Highlights:
-- Reported revenues were up 47% to GBP138.6 million in the
Third Quarter (Q3 2016: GBP94.5 million) driven by strong order
growth and the inclusion of SkipTheDishes.
-- On a currency neutral basis, revenues grew by 44%.
-- Total orders were up 29% to 43.1 million in the Third Quarter (Q3 2016: 33.3 million).
-- UK orders were 26.2 million (Q3 2016: 21.4 million), up 22%
against a comparative period that was impacted by unseasonal
weather conditions.
-- International orders were up 43% to 16.9 million (Q3 2016:
11.8 million), driven by triple digit pro-forma order growth from
SkipTheDishes.
-- Proposed acquisition of Hungryhouse received provisional
clearance from the Competition and Markets Authority.
Just Eat further announces that, following three years as a
listed company, it is ceasing publication of its January trading
update. Just Eat will continue to report full financials at the
full and half year, alongside first and third quarter trading
updates. As such, Just Eat's next market update will be its full
year 2017 results on 6 March 2018.
Guidance:
Given the continued strength of SkipTheDishes, driven by
commensurate investment, we are pleased to raise our previous
revenue guidance for full year 2017 of GBP500-515 million to
between GBP515-530 million and retain that of underlying EBITDA of
between GBP157-163 million.
Peter Plumb, CEO commented:
"The Just Eat team has once again delivered another period of
strong growth. As I get to know the company, it is great to see the
UK business in good health and positive momentum across our
international markets, particularly in Canada where SkipTheDishes'
delivery expertise and relentless focus on customer service are
driving excellent results.
We will continue to invest for growth in technology, marketing
and great people."
--- END ---
Enquiries:
+44 (0)20 3667
Just Eat 6961
Peter Plumb, CEO
Paul Harrison, CFO
Adam Kay, Head of Investor
Relations
+44 (0)20 7404
Brunswick Group LLP 5959
Sarah West, David Litterick,
Chris Buscombe
Forward looking statements:
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements". By their nature,
forward-looking statements involve risk and uncertainty since they
relate to future events and circumstances. Actual results may, and
often do, differ materially from any forward-looking statements.
Any forward-looking statements in this announcement reflect
management's view with respect to future events as at the date of
this announcement. Save as required by law or by the Listing Rules
of the UK Listing Authority, the Company undertakes no obligation
to publicly revise any forward-looking statements in this
announcement following any change in its expectations or to reflect
events or circumstances after the date of this announcement.
About Just Eat:
Just Eat plc operates a leading global marketplace for online
food delivery. Headquartered in London, we use proprietary
technology to offer a quick and efficient digital ordering service
for 19.6 million customers and 78,700 restaurant partners. Just Eat
is a member of the FTSE 250 Index.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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