Deliveroo shares fall 3% despite achieving profitability earlier than expected

Company hailed earnings of €7.5m in the second half of last year compared with a a loss of €84.6m a year earlier as 'a major achievement'

Deliveroo's most valuable market is in the UK and Ireland, where it generates the bulk of its revenues.

Shares in Deliveroo fell 3% even as the takeaway food delivery firm said it was making profits in the second half of last year and was confident about the year ahead despite the cost-of-living crisis raging across its major markets.   

"The macroeconomic outlook for the year ahead remains uncertain, but our record in the past 12 months makes me optimistic about our ability to adapt and continue to deliver on our plans to drive profitable growth," said its founder and chief executive Will Shu.