Just Eat is growing insanely fast

Online takeaway ordering service Just Eat put out results for the first 6 months of the year on Tuesday and the growth rates are pretty incredible.

Orders, revenue, underlying earnings, number of active users, and post-tax profit all grew by over 50%. Check out the table below:

Remember, this is just an app and website that let’s you order a Friday night takeaway, but it’s growing like it was the new Facebook.

Just Eat expanded into Brazil, Australia, and New Zealand in the period, but the impressive thing is the businesses isn’t just buying growth.

Like-for-like sales — a term for sales from markets and stores that were still on the platform this time last year — grew by 47%. In Just Eat’s core market of the UK, which makes up 71% of revenue, sales jumped by 48%.

As a result of all this growth, Just Eat upgraded revenue forecasts for the year to £230 million, against City expectations of £220 million. The company also says: “Such revenue over-performance [is] expected to continue into 2016.”

Here are some other highlights from the update:

  • Active Users up 59% to 11.0 million (as at 30 June 2014: 6.9 million)
  • Orders via mobile devices account for over 60% of total orders (H1 2014: over 50%)
  • The platform processed orders worth over £700 million for our takeaway restaurants over the last 6 months (H1 2014: £465 million)

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