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Deliveroo reaches net profit and cash flow milestones

Economic Times

Economic Times · 3m

Deliveroo reaches net profit and cash flow milestones

Deliveroo, a British meal delivery company, announced positive net profit and free cash flow for the first half of the year, leading to a 9% increase in its shares. CEO Will Shu expressed satisfaction with the company's strong performance, citing improved profitability while continuing to grow. Deliveroo also plans to repurchase £150 million of stock. Shu noted that consumer sentiment has become more stable, although not necessarily positive, and highlighted the success of the company's loyalty program. The company has upgraded its full-year forecast for core earnings and reported a 57% increase in the first-half profits.

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