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Deliveroo reiterates FY guidance after 'strong start'
(Sharecast News) - Food delivery giant Deliveroo maintained its FY guidance on Thursday as it revealed it had delivered a "strong Q1 performance", with order growth accelerating during the period. Deliveroo said gross transaction values were up 9% year-on-year in constant currency, with order growth up 7% and GTV per order increasing by 2%.
As a result, Deliveroo reiterated its guidance for high single-digit growth in gross transaction value and core earnings of £170.0 to £190.0m in FY24.
Deliveroo also pointed out that it had made "good strides" in both its UK and Ireland, and its international operations, a reflection of its "relentless focus" on enhancing its customer value proposition.
Chief executive Will Shu said: "I am really pleased with our strong start to the year, marked by a 9% year-on-year increase in GTV and 7% growth in orders. This represents a further acceleration from the fourth quarter.
"We continue to have confidence in delivering our guidance for 2025 whilst, like many others, remaining mindful of the uncertain macroeconomic environment."
As of 0910 BST, Deliveroo shares were up 1.54% at 132.10p.
Reporting by Iain Gilbert at Sharecast.com
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