Just Eat Takeaway shares rise as ING predicts 2023 profit jump
Just Eat Takeaway shares rose on Monday, January 11th, as analysts at ING predicted that the food delivery service could post strong returns in 2023. They noted that an amendment to a cap on fees that delivery firms can charge restaurants in New York City could lead to a €60 million boost for Just Eat. This is because the amendment would retain the city’s 15% limit on fees, but increase the premium for other functions, such as marketing. Just Eat has a large presence in New York City through its subsidiary Grubhub. In October, the company predicted that it will maintain positive adjusted earnings before interest, tax, depreciation, and amortization in 2023. The firm will release its fourth quarter trading update on January 18th, and analysts anticipate a slight improvement in orders over the three-month period.
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