Just Eat shares fall 7% as competitors up the pace

Food orders at Just Eat, the largest restaurant food delivery service in the UK, slowed at the back end of last year amid rising competition, causing shares to slide at a company known for its stellar growth rates.

Like-for-like orders rose 36% in 2016, Just Eat said yesterday, less than the 38% gain reported by the company for the first nine months of the year.

The shares fell as much as 7% at one stage, the most in almost seven months. The firm is valued at €3.72bn (€4.31bn).