JUST EAT plc Q3 2018 Results (9535F)

TIDMJE.

RNS Number : 9535F

JUST EAT plc

01 November 2018

1 November 2018

Q3 2018 Update

Strong Q3 performance; on track to meet full year expectations

Just Eat plc (LSE: JE.) ("Just Eat" or the "Group"), a leading global marketplace for online food delivery, today updates the market on its performance over the three and nine months to 30 September 2018 ("Q3" and "YTD" respectively).

 
   2018                        Q3       YTD 
-----------------------  --------  -------- 
  Group Revenue (GBPm)      195.3     553.7 
  Revenue growth              41%       44% 
  Constant currency 
   basis                      43%       45% 
 

Q3 Highlights:

-- Revenue up 41% to GBP195.3 million driven by strong marketplace order growth, accelerating growth of delivery orders and the inclusion of Hungryhouse.

-- Group orders were up 27% to 54.7 million with more than 57% of orders being made by app (Q3 2017: 50%).

-- UK orders increased by 16% to 30.3 million, driven by strong trading in September, including our first ever weekend with over one million orders, reducing the impact of exceptionally hot weather in July and August.

-- SkipTheDishes, our market-leading Canadian food delivery business, continued to grow triple digits with the launch of multi-language capabilities. This latest update enabled full coverage across Canada, with expansion into Quebec, and supported the launch of new branded restaurant partners, including McDonald's and Tim Hortons.

-- Our Australian business completed the Group's pioneering integration of SkipTheDishes' world-class delivery platform with Menulog's marketplace, creating a hybrid service which gives customers the best of both worlds through access to more choice and better service.

-- International order growth was strong, powered by new restaurant partner sign-ups across tier 2, 3 and 4 cities.

Outlook

As we approach the end of the financial year, the Board now anticipates full year revenues to be towards the top end of the GBP740 to GBP770 million range and underlying EBITDA to be towards the lower end of the GBP165 to GBP185 million range, primarily reflecting investments in our dynamic LatAm markets in addition to our delivery initiatives.

Peter Plumb, CEO of Just Eat Plc commented:

"The Group has delivered another strong quarter as we helped our 97,000+ restaurant partners serve over 54 million takeaways to millions of hungry customers. Our increased investments in delivery, brand and data are already taking the Just Eat brands to more customers, making it easier for them to order from a widening choice, ensuring their takeaway moments are even more enjoyable.

Our delivery expansion plans are on track, ensuring we give customers exactly what they want, and I'm very pleased with the progress we are making against our strategic objectives."

--- END ---

Enquiries:

 
                                              [phone] 
 Just Eat                                      6961 
 Peter Plumb, CEO 
  Paul Harrison, CFO 
  Rachael Malcolm, Investor Relations 
  Ralph Charlton, Corporate Communications 
                                              [phone] 
 Brunswick Group LLP                           5959 
 Sarah West, David Litterick, Chris 
  Buscombe 
 

Forward-looking statements

This announcement includes statements that are, or may be deemed to be, "forward-looking statements". By their nature, such statements involve risk and uncertainty since they relate to future events and circumstances. Actual results may, and often do, differ materially from any forward-looking statements. Any forward-looking statements in this announcement reflect management's view with respect to future events as at the date of this announcement. Save as required by law or by the Listing Rules of the UK Listing Authority, the Company undertakes no obligation to publicly revise any forward-looking statements in this announcement following any change in its expectations or to reflect subsequent events or circumstances following the date of this announcement.

About Just Eat

Just Eat plc (LSE: JE) operates a leading global marketplace for takeaway food delivery. Headquartered in London, we use proprietary technology to offer a quick and efficient digital ordering service for over 25 million customers and over 97,500 restaurant partners across the UK, Australia & New Zealand, Canada, Denmark, France, Ireland, Italy, Mexico, Norway, Spain, Switzerland and Brazil. Just Eat is a member of the FTSE 100 Index.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

TSTWGGAGUUPRPPG

(END) Dow Jones Newswires

November 01, 2018 03:00 ET (07:00 GMT)