Just Eat Ireland takes away profits of €2m last year

Profits at the Irish arm of the world’s largest online takeaway ordering service, Just Eat, increased almost three-fold last year to €2m.

Just Eat Ireland takes away profits of €2m last year

New accounts filed by Just Eat Ireland Ltd show it came on the heels of a profit of over €641,800 in 2014.

Numbers employed by the business last year fell slightly by five to 36 people, while employment costs totalled €1.43m.

The firm achieved the profit on the back of orders increasing by 40%. Earlier this year, the company increased its commission by 1 percentage point to 13%.

When it established here eight years ago, the firm charged 8% on orders made through the service, which subsequently increased to 10% before jumping another 2 percentage points to 12% in 2014.

The additional money from the increase in charges will be used to invest in technology, innovation and marketing this year, the company said. Its cash pile increased from €1.4m to €1.9m.

Shareholder funds at the end of December last totalled €2.2m.

Just Eat Ireland’s managing director, Amanda Roche Kelly, told the Irish Examiner: “Just Eat Ireland has enjoyed a strong period of growth,” saying that with more than 1,800 restaurants offering a range of over 30 types of take-away food, growth continues for the company in Ireland.

“The Just Eat app has been downloaded over 700,000 times since it launched in October 2013. It is the number 1 app under ‘Food and Drink’ in the App Store in Ireland and has been consistently [so] since launch.”

Just Eat said it processes over 76% of its orders via mobile devices, including its app and mobile sites.

Just Eat is the world’s leading marketplace for online food delivery operating in 13 markets.

In the UK, Just Eat shrugged off its UK summer slowdown to bolster full-year profit guidance for a third time this year as its push into growing European markets and new technology pays off.

“As an online company, we are always looking for new and innovative ways to improve that user experience and make it even easier for the end user, be they customers or restaurant partners,” said Ms Roche Kelly said.

Earlier this month, it nudged up its guidance after like-for-like orders grew 34% in the third quarter, with more than 80% coming from mobile devices.

The company said it had slightly increased its expectations for underlying core earnings to £109m (€112.5m) to £111m, from £106m to £108m, on revenue forecast to be £371m.

Orders in Britain are continuing to rise, but at a slower pace than a year ago. They were up 28% compared to 50% a year ago.

Additional reporting: Reuters

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