Results round-up

Shire, which completed its $32bn merger with Baxalta last June, reported a 109% surge in revenues for the first quarter as it said it was on course to achieve its full-year guidance.

Total revenues rose to $3.6bn, with product sales up 110% to $3.4bn and sales excluding legacy Baxalta up 11% to $1.8bn.

The company attributed the jump in sales to growth in its genetic diseases and internal medicine franchises, where sales were up 14% and 9%, respectively. Sales in the ophthalmology franchise also made a solid contribution.

Operating income was up 82% to $1.5bn and earnings per ADS were up 14% to $3.63.

Royalties and other revenues in the period increased 95% to $160m as the first quarter benefited from additional revenue acquired with haemophilia specialist Baxalta, primarily related to contract manufacturing activities.

Shire said the Baxalta integration was progressing ahead of schedule and is on track to deliver at least $700m in synergies by year three.

The company reiterated its full-year 2017 guidance for product sales of between $14.5bn and $14.8bn and diluted earnings per share of $14.60 to $15.20.

Online food delivery company Just Eat reported a 46% jump in first-quarter revenues and reiterated its full-year guidance.

For the three months to the end of March, revenue rose to £118.9m from £81.5m. On a currency neutral, like-for-like basis, revenue was up 40%, driven by strong order growth and last year's commission increases, including the UK, and the inclusion of SkipTheDishes.

Total orders were up 25% on a LFL basis to £39m, but this was slightly below the 30% growth achieved in the prior quarter, which is perhaps the chief reason why shares in the company fell more than 2% on Tuesday.

UK orders increased to £24m from £20.6m in the first quarter of last year. Taking into account the benefits associated with the additional leap year trading day and Easter falling into the first quarter of 2016, order growth would have been 19%.

Meanwhile, international orders were 38% higher at 15m, or 43% on a LFL basis.