Dow Jones Newswires: Deliveroo gross transaction value rises 8%

by | Oct 21, 2022 | Stock Market

Deliveroo PLC said in a trading update Friday that gross transaction value rose 8% on year on a reported basis and lowered the top end of the range of its full-year guidance. The U.K. food-delivery company
ROO,
+5.05%
said GTV increased to 1.70 billion pounds ($1.91 billion). Orders declined 1% on year, but this was more than offset by on year growth in GTV per order of 9%, driven by item level price inflation and continued optimization of consumer fees.

The company said that it now expects GTV growth in the range of 4%-8% on constant currency, the lower half of the previously-announced range of 4%-12%. The adjusted earnings before interest, taxes, depreciation and amortization margin is now seen in the range of minus 1.2%-minus 1.5%, from minus 1.5%-minus 1.8% previously. “Since June, the year-on-year GTV growth trend has been broadly stable, despite the ongoing economic uncertainty,” Chief Executive Will Shu said. Write to Kyle Morris at kyle.morris@dowjones.com

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