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Food delivery company Just Eat Takeaway reported wider first-half losses after ramping up investments, but said losses had reached a peaked, and touted improved profitability ahead following a jump in revenue and orders.
For the first six months of 2021, operating losses widened to €355 million from €11 million year-on-year, while revenue increased to €1.77 billion from €675 million.
On a combined basis including results from Grubhub, operating loss was €190 million and revenue grew by 52% to €2.6 billion.
Just Eat in the UK added a record number of 58 million orders to 135 million orders.
'Just Eat Takeaway.com has reached the peak of its absolute losses in the first half of 2021,' the company said.
'Improved profitability will be driven by the growth and increased scale of the business, flexibility from the widening price gap, product and technology improvements, operational efficiencies, as well as fee caps which are expected to partly fall away going forward,' it added.
Looking ahead, management reiterated its guidance for the full year 2021.
Order growth, excluding Grubhub, is forecast above 45% year-on-year; Gross transaction value including Grubhub, was expected to be in a range of €28 to €30 billion.