LONDON, Aug 10 (Reuters) – Britain’s Deliveroo has announced it will exit the Netherlands after failing to establish itself locally, and reports a larger first-half pre-tax loss under “conditions difficult market conditions”.
The Deliveroo title gained 1.7% on the London Stock Exchange at 7:17 GMT.
The meal delivery company, which lowered its revenue forecast for the full year last month after a sharp slowdown in the second quarter, posted a pre-tax loss of 147 million pounds (173.89 million euros) in the first half, against a loss of 95 million pounds the previous year.
Deliveroo, which competes with Just Eat Takeaway and Uber Eats, said the Netherlands accounted for 1% of its gross transaction value (GVT) and a “disproportionate” amount of investment would be needed to improve its position on the market.
The company said it was working on a potential date for the last day of business around the end of November.
Deliveroo, which added McDonald’s to its platform in Britain, its largest market, cut its full-year GTV growth forecast to 4-12% from a previous forecast of 15 -25% last month.
In the second quarter, VTG growth slowed to 2% from 12% in the first quarter.
Founder and CEO Will Shu said he was determined to deliver profitable growth and break even in adjusted core earnings.
“So far in 2022, we have made good progress in delivering on our profitability plan, despite increasing headwinds for consumers and slower growth over the period,” he said. declared.
“We remain confident in our ability to adapt financially to any further changes in the macroeconomic environment.” (Report Paul Sandle, French version Augustin Turpin, edited by Kate Entringer)