Deliveroo achieves breakeven in second half

Founder and CEO Will Shu said Deliveroo had delivered "significant improvements in profitability in a difficult macroeconomic environment".

The loss-making company, which pulled out of Australia and the Netherlands in 2022, had previously expected its earnings margin for the year to be between -1.2% and -1.5%. Picture Denis Minihane.

Popular meal delivery company Deliveroo said it achieved breakeven in adjusted earnings in the second half of 2022, boosting its margin for the year to a better-than-expected -1%, adding that it expected continued improvement in 2023.

The company said on Thursday the gross transaction value (GTV) of its orders for its continuing operations increased 6% to £1.8bn (€2.05bn) in the fourth quarter, as item price inflation offset a 2% drop in order numbers.