'Consistent execution' driving continued momentum for Deliveroo

In a third quarter (Q3) trading update for the year, the delivery company reported revenue of £297m, up from £277m in Q3 2022. 

Order numbers rose 3% YoY over the period, covering the three months to 30 September 2023, from 37.7 million to 38.8 million. Order frequency held at 3.9 million compared the same period last year, but declined slightly from the 4 million reported in the second quarter of 2023.

The UK and Ireland also saw continued GTV growth momentum, up 9% year-on-year.

Will Shu, founder and CEO of Deliveroo, said: "I'm really pleased with our results and proud of the team's execution, especially the continued progress on service towards a seamless delivery experience.

"We've also made clear progress in promoting value within the app, which remains so important given the tough consumer backdrop. We continue to deliver strong performance in UKI and I'm encouraged by the improving growth trends in key international markets.

"My confidence in our ability to drive growth and deliver on our goals for profitability and sustainable cash flow generation has never been stronger."

The group reports that it expects adjusted EBITDA to be in the range of £60-80 million in its full year results.