Just Eat pares loss and sees spending on Katy Perry ads at peak      

Just Eat maintained growth and margin forecasts for the full year. Picture: Gareth Fuller/PA Wire

Just Eat, Europe's largest meal delivery company, reported a smaller loss for the first half of 2022 and maintained growth and margin forecasts for the full year, promising lower spending on costs such as a recent commercial featuring pop icon Katy Perry.

Investors lauded the company's focus on profitability, which includes recent moves to raise restaurant commissions and retrench in markets including the US and France, sending shares which trade in  Amsterdam up 5% to almost €20 at one stage. However, the shares are down 60% in the year to date.