Deliveroo has reported deepening pre-tax losses, despite more than doubling its sales over the last year, as it splashed out on “major investments”.
The food delivery service reported pre-tax losses of £232m, up from £199m the previous year, which it put down to “investing heavily in its service as it looks to expand its operations”.
It reported that gross profit jumped by 42% to £91m, which Deliveroo put down to increased order volumes and continued growth in its core markets. Global sales meanwhile also increased, posting a 72% jump year on year to £476m.
Deliveroo said this provided “further evidence of the strength” of its business model and hailed its “enhanced customer offer”.
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