Just Eat delivers revenue growth

Shares in Just East Takeaway (LON:JET) climbed by 4.79% to 9,094p (as of 13:55 BST) after it reported a 44% rise in revenues for the first half of 2020. Order numbers improved by 32% relative to the prior year, but the loss for the period broadened due to amortisation, advisory, and transaction costs liked to acquisition activities.

CEO Jitse Groen commented: “Just Eat Takeaway.com is in the fortunate position to benefit from continuing tailwinds. The United Kingdom, Germany, Canada, the Netherlands, Australia, and Brazil are performing particularly strongly. Our businesses have healthy gross margins, and all our segments are adjusted EBITDA positive. On the back of the current momentum, we started an aggressive investment programme, which we believe will further strengthen our market positions. We are convinced that our order growth will remain strong for the remainder of the year“.