Just Eat, Europe’s largest takeaway delivery firm, says profits will rise this year

Growth was driven by higher food prices, new partnerships with restaurants and shops, as well as expanded tie-ups with Morrison's Daily, Lego and KFC

The company's shares were down around 3% in midday trading. Photograph: Sasko Lazarov / RollingNews.ie

Just Eat Takeaway said it expected to report 2023 core earnings ahead of its forecast, after it broke even on free cash flow in the second half of 2023.

Europe's biggest meal delivery group was the first one in the sector to achieve cash flow break-even, which CEO Jitse Groen said was aided by cost cuts that included laying off staff in the US and bringing down costs per order delivery.