Just Eat lifts full-year revenue guidance after solid Q3

In the three months to the end of September, group revenue rose to £138.6m, driven by strong order growth and the inclusion of SkipTheDishes, which it bought last year. Meanwhile year-to-date revenue was up 45% to £385.2m.

Total orders were up 29% to 43.1m in the third quarter, beating consensus expectations of 40.7m, with UK orders up 22% to 26.2m against a comparative period that was hit by unseasonal weather conditions.

International orders grew 43% to 16.9m, driven by triple-digit pro-forma order growth from SkipTheDishes and the company's proposed acquisition of Hungryhouse received provisional clearance from the Competition and Markets Authority,.

Given "the continued strength of SkipTheDishes", the group lifted its revenue guidance for the full year 2017 to between £515m and £530m from between £500m and £515m, keeping its forecast for underlying earnings before interest, taxes, depreciation and amortisation of between £157m and £163m.

Chief executive Peter Plumb said: "The Just Eat team has once again delivered another period of strong growth. As I get to know the company, it is great to see the UK business in good health and positive momentum across our international markets, particularly in Canada where SkipTheDishes' delivery expertise and relentless focus on customer service are driving excellent results.

"We will continue to invest for growth in technology, marketing and great people."

Investec said: "We reiterate our positive stance on the company, with Just Eat continuing to drive the channel shift
to online ordering in the takeaway industry from a strong market position. Buy for sector-leading growth in the mid/large
cap UK Internet space."

At 0905 BST, the shares were up 4.3% to 772p.