Just Eat’s annual earnings take a hit in attempt to fend off Deliveroo and Uber
Online food website Just Eat has warned that its full-year performance will be dented by investment in fighting off rivals and expansion into Latin America, despite revenue being on course to shoot up.
The group said it expects annual earnings to come in towards the lower end of its £165m to £185m range.
This, the firm said, reflects “investments in our dynamic LatAm markets in addition to our delivery initiatives”.
Just Eat is moving into the delivery space as it attempts to compete with Deliveroo and Uber, firms that have been muscling in on its territory of late.
Speculation that Uber is in early talks to buy rival Deliveroo has also recently hit Just Eat’s shares.
Nevertheless, Just Eat’s annual revenues are expected to come in at the top end of its £740m to £770m range after soaring 41% in the third quarter to £195m.