ONLINE FOOD DELIVERY
Deliveroo doubles annual sales
The company’s 15,000 drivers have become a familiar sight in Britain since 2013
Bengaluru -British online food delivery company Deliveroo said on Monday that its full-year revenue more than doubled but its pretax loss widened after it invested a further £100m to expand into new markets. The company’s 15,000 drivers have become a familiar sight in Britain since 2013, tapping into the rapidly growing demand for takeaway food from restaurants, while having expanded into other countries, with new markets due soon. Pretax losses in the year to December 31 2017 rose to £184.7m from £129.1m in 2016, while revenue climbed to £277m in 2017 from £128.5m.
The company said its gross profit rose £64.3m from £1.1m last year, with gross margin rising 23% from less than 1%, helped by growing maturity in existing markets, improved services and higher order volumes. Deliveroo, which will be moving into Taiwan, its 13th market, in coming weeks, expects to expand to more markets in coming months. The company said on Monday it was now working with 50,000 restaurants and 50,00...
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