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Revenues rose by half and pre-tax profits more than doubled at takeaway ordering website Just Eat in 2016.
Revenues rose 52 per cent to £376m while pretax profits rose 164 per cent to £91m, following the acquisition of takeaway businesses in Italy, Canada, Spain and Mexico. Like-for-like revenues rose 46 per cent in 2016 compared with 2015.
Chief executive David Buttress said:
This reflects robust order growth across the business, strong cash generation and further underlying EBITDA margin expansion as we consolidated our market leadership in every geography where we operate.
Mr Buttress announced in February that he was standing down at the end of this month because of “urgent family matters”, but he that he would continue as a non-executive director. Chairman John Hughes is to run the company until a successor is appointed.