Online food growth love affair over as investors back Just Eat Takeaway’s new passion for profit

Delivery platform sees €284 million profit swing H1/H2

• Growth has been slowing for months
• Streamlining business a priority for Just Eat Takeaway

Shares in Just Eat Takeaway (JET) jumped 15% to £24.42 after the company reported better-than-expected profits for the final six months of 2022. The Amsterdam-based firm posted an adjusted EBITDA of approximately €150m, rebounding from a loss of €134 million in the first half thanks to higher pricing and cost-cutting. Just Eat also predicted that it would deliver a positive adjusted core profit of about €225m in 2023. The company’s CEO, Jitse Groen, stated that their improved profitability and strong capital position will allow them to continue growth and invest in food and non-food adjacencies.

the article is “Online food growth love affair over as investors back Just Eat Takeaway’s new passion for profit“