Deliveroo upgrades growth forecast

Thanks to gross value on its orders growing by 58% year on year in the third quarter of 2021, Deliveroo has upgraded its full year growth forecast.

The value of the hot food and grocery delivery firm’s orders grew to £1.59 billion and the number of orders increased 64% to £74.6 million. Average order sizes however fell by 4% to £21.40 per order.

UK based Deliveroo now says that it expects its full year transactional value to grow by 60-70% this year, up from its previous estimate of 50-60%.

According to its CEO and founder Will Shu, the firm has made good progress in the quarter, including launching its new rapid grocery delivery service called Deliveroo Hop.

“While we are mindful of current and potential macroeconomic disruptions and uncertainties, we expect further strong performance in the remainder of the year and we are increasing our full year GTV growth guidance,” he said.

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