British meal delivery company Deliveroo reported its first year of profit and positive free cash flow in 2024 and said it expected to deliver more growth this year despite an uncertain consumer environment.
The company made a profit of £2.9 million ($3.8 million), against a loss of £31.8 million in the previous year. Adjusted core earnings came in at £129.6 million, at the top end of its guidance, it said.
Deliveroo, one of the market leaders in Britain and Ireland and present in another eight markets, had already reported in January a 6% rise in gross transaction value (GTV) to £7.43 billion from 296 million orders in 2024.
'Uncertain Consumer Environment'
Founder and chief executive Will Shu said the "robust" results showed the company's strategy was working.
"Whilst the consumer environment remains uncertain, I am confident that we can continue to deliver growth by focusing on the levers in our control," he said.
Earlier this week, Deliveroo said it would leave the Hong Kong market after nine years, with the sale of some of its assets to rival Delivery Hero's foodpanda.
In January, the company Deliveroo said it had 'robust' growth in its final quarter, with gross sales on its platform up 7%, driven by more orders and increased spending, and said its full-year earnings would be towards the top of its forecast.
