Food delivery platform Deliveroo on Friday said it expected annual revenue to be at the lower end of guidance as consumers tightened their belts.
It said full-year gross transaction value (GTV) growth – a key measure – was now expected to be 4-8% on a constant currency basis, the lower part of the previously announced 4-12% range.
Deliveroo also upgraded its adjusted core earnings margin guidance slightly, helped by lower marketing spend.
Third quarter GTV contracted by 5% quarter on quarter in constant currency, and orders were down 7%, reflecting summer seasonality in European markets and current consumer headwinds, the company said.
GTV per order has increased quarter-by-quarter since Q3 2021 to reach £23.4 in Q3 2022, primarily driven by item price inflation.
Reporting by Frank Prenesti for Sharecast.com
