Just Eat sees order levels pass the 1BILLION mark since its inception as Britons continue to swap home-cooked meals for takeaways
- Includes 200 million orders in the first nine months of 2021
- Share price down 3.14% to 5,333p on the back of weak US growth
Britons have placed one billion orders on online food delivery platform Just Eat Takeaway.com since its inception in 2001, the group has revealed today.
The milestone was reached this summer, and included 200 million orders in the first nine months of 2021.
Bosses said business in Britain surged by 51 per cent in the three months to the end of September compared with a year earlier, following a hefty investment programme to draw in new customers.
Orders: Britons have placed one billion orders on online food delivery platform Just Eat Takeaway.com since its inception in 2001
Jitse Groen, chief executive of Just Eat Takeaway.com, said: ‘With most of the world returning to pre-pandemic life, our growth in the third quarter of 2021 has remained strong.
‘Just Eat Takeaway.com is well-positioned for autumn and winter, our traditional growth season.
‘We look forward to updating the market on the exciting opportunities for long-term growth across our business during our Capital Markets Day on 21 October.’
Shares in the group have fallen today, and are currently down 3.14 per cent or 173p to 5,333p. A year ago the share price was 8,482.00p.
In the US, the group’s orders in the third quarter increased by 3 per cent compared with the same period last year. ‘Management started to implement an improvement programme re-focusing the Company on Grubhub’s strongholds’, the firm said in its update today.
Germany was the second fastest-growing hub, adding 10million orders in the quarter compared with the prior year, representing 35 per cent order growth.
The group completed a multi-billion dollar acquisition of US peer GrubHub in June, and GrubHub chief executive Matt Maloney announced last week that he plans to leave the firm in December.
Neil Shah, director of research at Edison Group, said: ‘It’s clear to see that Just Eat takeaway.com is continuing to benefit from Brits swapping home-cooked meals for takeaways.’
He added: ‘While growth in the UK was very strong, the US element of the business saw the weakest growth, with a 3 per cent increase compared to the same period the year prior. Poor growth in the US could be as a result of New York City, its largest US market, capping commission it and its rivals can charge restaurants to use their platforms at 15 per cent of orders.’
Mr Shah continued: ‘The main challenge for the firm going forward will be to make sure new customers in the pandemic remain loyal to the site, rather than reverting to dining out’
Takeaway.com merged with UK-based food delivery service Just Eat in February 2020.