Just Eat serves up 400 millionth order

Online takeaway delivery firm Just Eat announced a big rise in its first-quarter revenue as it delivered its 400 millionth order in the UK.
Revenue rose 49% to €177.4m in the three months to March 31, compared with €118.9 million in the same period of 2017.
The London-based company, which has operations in Australia, Canada, Europe and the UK, said orders jumped 32% to 51.6 million.UK orders climbed 24% to 29.7 million, helped by to the acquisition of Hungryhouse, and increased orders over Easter, which added an estimated 1% to UK order growth.Just Eat reiterated full-year guidance of revenue of between €660m and €700m and expects underlying earnings of €165m to €185m in 2018.Just Eat's chief executive Peter Plumb said: "We delivered our 400 millionth order in the UK, grew well in Italy and Spain, whilst powering continued momentum in our Canadian delivery service SkipTheDishes."
While international orders rose 46% to 21.9 million, Just Eat warned of "softness" in Australia, where it faces stiff competition.The company was forced to take a €189m charge for the acquisition of Menulog, its Australian and New Zealand business, which led to a pre-tax loss of €76m in 2017."The big questions surrounding the group remain unanswered though; in Australia, where a revamp of Menulog was mishandled last year, progress is still below par, whilst the profitability of the group's delivery services is yet to be proven, Steve Clayton, manager of Hargreaves Lansdown Select UK Growth Shares, said.
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The FTSE 100 company is investing €50m to increase deliveries for branded chains, a market estimated to be worth €18bn.The company's stock rose more than 5% in early trading on Tuesday.
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