Deliveroo backs annual guidance as Q3 GTV ticks up 5%

Deliveroo backed its full-year guidance on Thursday as it posted a 5% increase in third-quarter gross transaction value (GTV), pointing to improving growth trends.

GTV rose to £1.7bn, with continued growth momentum in the UK and Ireland and an improvement in the international business.

In the UK&I, GTV grew 9% to £1.03bn, while the international segment saw a 4% decline to £671m.

Guidance for the year was maintained, with Deliveroo still expecting GTV growth in the lower single digits percentage in constant currency, and adjusted EBITDA of £60m to £80m.

Founder and chief executive Will Shu said: "I'm really pleased with our results and proud of the team's execution, especially the continued progress on service towards a seamless delivery experience. We've also made clear progress in promoting value within the app, which remains so important given the tough consumer backdrop.

"We continue to deliver strong performance in UKI and I'm encouraged by the improving growth trends in key International markets. My confidence in our ability to drive growth and deliver on our goals for profitability and sustainable cash flow generation has never been stronger, and I'm excited to share more at our Capital Markets Event on 29 November."