Deliveroo breaks even despite dip in orders
STORY: Deliveroo broke even in the second half of last year.
The British meal delivery firm says better cost control and higher customer fees helped drive revenue, despite order numbers falling from health-crisis highs.
Deliveroo said the value of orders rose 6% to $2.2 billion in the fourth quarter.
That as a rise in restaurant prices offset a 2% drop in the number of orders.
Deliveroo now expects to be profitable this year, although it still called the outlook for the period 'uncertain'.
The firm said it could still lower overheads and improve logistics.
Money will also be saved from the closure of loss-making ventures in Australia and the Netherlands.
Deliveroo confirmed more details on profitability would be given with results in March.
Its shares rose more than 8% in early trading, but gave up their gains by mid-morning.
Earlier this week, rival Just Eat Takeaway also reported a dip in order numbers, but forecast stronger earnings for 2023.