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Can Just Eat continue to steal market share from Deliveroo?

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Can Just Eat continue to steal market share from Deliveroo? By Proactive Investors

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Published Feb 22, 2024 11:09

© Reuters Can Just Eat continue to steal market share from Deliveroo?

Proactive Investors – Just Eat Takeaway (LON:JETJ) should be in a cheery mood on the back of a fourth-quarter trading update, which saw it win orders from peer Deliveroo (LON:ROO) and beat earnings guidance

A full-year report from the takeaway company is due on Wednesday 28 February, and while investors will be keen to see management’s view on the upcoming year, focus will also be on any updates in its sale of GrubHub.

Back in January’s trading update, the takeaway group said it is actively exploring the partial or full sale of Grubhub, its US-based subsidiary, although these plans will have been in place for two years in April.

“A portfolio catalyst could, in our view, provide an opportunity to reappraise the shares on cleaner group GTV [gross transaction value] growth,” analysts at Shore Capital said.

Quarter-on-quarter order growth came in at 7% during the fourth quarter of 2023, beating rivals like Deliveroo, which only reported a 5% jump.

Just Eat has stolen market share from Deliveroo for three consecutive quarters now, leaving investors keen to see whether it reckons it can steal more of the market in 2024.

Official confirmation of the group’s underlying profits will also be important, after Just Eat said it expected to reach €320 million, beating the company’s guidance by €10 million and market consensus by €15 million.

Read more on Proactive Investors UK

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Can Just Eat continue to steal market share from Deliveroo?

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