Just Eat: Brits continue to scoff takeaways but other nations lose their appetite

Only Brits ordered more takeaway from Just Eat in the first three months of 2024, compared to the same period last year, while every other region scoffed fewer pizzas and chow mein dishes.

The Amsterdam-headquartered takeaway company said this meant its UK and Ireland division grew 11 per cent in the first quarter of 2024.

In the UK and Ireland, Just Eat orders rose one per cent to €60.3m (£51.4m) in the first quarter of the year, compared to 2023. But the company’s total orders fell six per cent to €214.2m (£182.6m) as European and American counterparts turned to the app less often.

Gross transaction value (GTV) dropped two per cent to €6.55bn (£5.58bn) as North America, Southern Europe and ANZ regions all underperformed.

Chief executive Jitse Groen said: “Just Eat Takeaway.com started the year well, with the acceleration of GTV growth in UK and Ireland and our continued momentum in Northern Europe in Q1 2024.

“We are excited that the investments in our business are paying off, and we are looking forward to the rest of the year.”

Yesterday, Just Eat said it has decided to discontinue all its operations in New Zealand in the coming weeks as the region is too small to turn a profit. Today, it said the financial impact will be “immaterial”.

The company said it is continuing to “actively explore” a partial or full sale of Grubhub, the American food delivery service.

“There can be no certainty that any such strategic actions will be agreed or what the timing of such agreements will be. Further announcements will be made as and when appropriate,” it said.

Just Eat has reiterated its guidance, including adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of around €450m (£384m) and positive free cash flow.