Just Eat’s Q1 not to investors’ taste

Digital food delivery platform Just Eat (LON:JE.) has reported a 28% improvement in revenues for the three months ended 31st March driven by business outside the UK. Management specifically labelled the group’s Canadian operations as the standout in terms of growth and said it was on track to deliver uEBITDA profit.

Interim CEO Peter Duffy commented: “Just Eat is on the right path to be the leading hybrid marketplace for online food delivery and we are confident in the delivery of our strategy. Many of our international markets have performed very well in the period although, as expected, we saw softer UK order growth in the quarter. We are making good progress and continue to execute at pace“.

Just Eat’s share price dropped by 3.05% to 725.80p (as of 10:55 BST).