Deliveroo Shares Rise Amid Increasing Orders
Deliveroo’s share price rose 2.4% as the food delivery giant reported that the gross transaction value (GTV) of orders on its platform were up 36% year-on-year in Q4.
Deliveroo said that the number of orders grew 10% in the quarter. On average, customers placed 3.4 orders per month in the last three months of 2021, a figure significantly higher than the 3.2 orders that were being placed per month during the first lockdown in 2020 when pubs and restaurants were closed. This further suggests that the popularity of food delivery platforms has not gone down since lockdown was lifted.
In the quarter, Deliveroo said it had 8 million active monthly customers, up 37% year-on-year and 123% on pre-pandemic levels.
On Thursday morning, share prices were up on the back of the results, trading at 179p.
“I am proud of what we achieved in 2021; despite a challenging backdrop, we continued to strengthen our customer proposition, widen our customer base and execute against our strategy,” said founder and CEO of Deliveroo Will Shu.
“We are excited about the opportunity ahead and look forward to making further progress in 2022.”