You are using an older browser version. Please use a supported version for the best MSN experience.

Just Eat Takeaway Predicts Core Profit Will Turn Positive in Second Half 9/27/2022
© Provided by

By Scott Kanowsky -- Just Eat Takeaway (AS:TKWY) has predicted that it will swing to a profit in the second half of 2022, sending shares in the Amsterdam-listed food delivery service higher on Tuesday.

In a statement, the group said it now expects to generate positive adjusted earnings before interest, taxes, depreciation and amortization in the final six months of the year, recovering from a first half loss of €134M.

"[T]he Company is working on improvements to Revenue per Order, Delivery costs per Order and Overheads&Opex. As a result of the significant progress Just Eat has already made, management now expects Just Eat to turn profitable earlier than initially anticipated," the company said.

It also backed its full-year expectations to deliver positive core income.

However, uncertainty still surrounds the potential impact macroeconomic conditions and foreign exchange volatility will have on the business. As a result, Just Eat slashed the outlook for gross transaction value - a measurement of the total dollar value of deals processed - to low-single digit annual growth, down from the prior guidance of a mid-single digit increase.

image beaconimage beaconimage beacon