Operating profits at the Irish arm of takeaway food delivery service Deliveroo last year increased by 8.5% to €1.35m as revenues further increased. The revenue increases of last year and 2022 have failed to keep pace with the breakneck 64% increase in revenues during the pandemic-hit 2021. The directors say the company’s gross profits increased by 18%, from €17.96m to €21.27m, “reflecting both increased demand and the scalable unit economics of the business model". At the end of December last, the firm's accumulated profits totalled €6.89m, while the company's cash funds fell from €26.98m to €26.07m. Deliveroo today works with 160,000 restaurant and grocery partners in 10 markets around the world.

Source: Irish Examiner October 14, 2024 13:55 UTC