In the third quarter, Deliveroo sales increased by 6% to £1.8bn.

Deliveroo’s platform saw a 6 percent increase in transactions to £1.8 billion and a 2 percent rise in total orders during the third quarter.

The UK and Ireland customers increased their spending on the app 7 percent, but international transactions decreased slightly. The temporary disruption that occurred during the Paris Olympics in the summer was the reason for this. Getting around the city became difficult and people were encouraged by the organizers to work remotely from other cities if possible.

The company reported that sales in Hong Kong were affected by the tough competition. The total sales increased to £498 millions, up from £487 millions the previous year. Sales in the UK and Ireland increased by 4 percent to £308 millions. The share price of the takeaway delivery service closed at 147 1/2p up 1/2p or 0.4 percent, giving it a value of £2.5billion. The shares were floated at 390p in 2021.

Will Shu is the founder and CEO of the company. He said that the UK and Ireland are still growing well, with an improving order trend. We’re also pleased with international growth, which has been driven by Italy and the UAE.

There are a lot of exciting opportunities for the industry. Deliveroo’s market-leading consumer proposition, its pioneering approach to verticals, and its ongoing work on loyalty and price integrity, as well as our continued focus on service and customer satisfaction, will help it capture the growth potential of an industry that is still in its infancy.

Deliveroo announced its first ever interim profit in August, since going public. The company made £1.3 million during the first half of the year. This is a dramatic turnaround from the £82.9 millions it lost in the same time period last year.

The company was founded by Shu, an American-born former banker in London in 2013. The company has grown since its humble beginnings, when Shu, a former American banker, delivered pizzas personally to friends. He still delivers pizzas today, even though he does it less often. This allows him to monitor the performance of the company. Deliveroo operates in 10 markets, with around 140,000 delivery riders. It also partners with approximately 180,000 restaurants.

The app is in a very competitive market. This year, rival brands Getir & Gorillas left the British market. Uber Eats continues to grow its food delivery platform. It has expanded beyond takeaways to other areas, such as groceries. It also has relationships with many retailers outside of food, including B&Q. Advertising on the platform accounts for a small portion of revenue.

Jefferies analysts said about these latest figures: “Given that momentum is largely unchanged (we have now had three quarters in a row of constant growth of 6 percent), Deliveroo has, unsurprisingly, reiterated its full-year guidance for 2024. We believe that Deliveroo can hold onto its gains for the year to date.

The company expects adjusted profits to be in the upper half of a range between £110 million and £130 million.

Sean Kealy who follows the French company at Panmure Liberum said that even though the numbers were “modestly below consensus”, it expects the French business now to bounce back and maintains its “buy” rating on the stock.