Meal delivery company Deliveroo said it had 'robust' growth in its final quarter, with gross sales on its platform up 7%, driven by more orders and increased spending, and said its full-year earnings would be towards the top of its forecast.
The British company on Thursday said adjusted core earnings were expected to be towards the top end of its £110-130 million (€130-€188 million) range, adding that it would be free cash flow positive for the year, in line with its guidance.
“I’m proud of our progress in 2024 as we continued to strengthen our consumer value proposition," said Will Shu, founder and CEO of Deliveroo. "We enhanced our loyalty programmes, delivered strong growth in grocery and secured new partnerships to expand our retail selection, enabling us to bring even more of the neighbourhood to consumers’ doors. Our continued execution has driven improved frequency and retention in Q4, with order growth improving throughout the year in UKI."
Deliveroo Ireland launched an industry-first Rider Respect Charter in December, pledging positive relationships between restaurants and riders.
The charter aims to create a more respectful and professional environment while helping the delivery process to run more smoothly.
“With the Rider Respect Charter, we aim to create a platform that others can look to for leadership on how to foster respect and collaboration,” said Helen Maher, regional director for Ireland at Deliveroo. ”This charter reflects our ambition to be not just a delivery service, but a supportive community for everyone involved.”
The charter sets out a number of criteria and principles, by which both riders and restaurants agree to abide, and it is expected to enhance working conditions, reduce wait times, and promote better relations between all parties.
It was developed in response to direct feedback from riders and restaurant and grocery partners.
Article by Reuters, additional reporting by Hospitality Ireland.
