Food delivery giant Deliveroo has posted widened pre-tax losses as the demand for takeaways ease back due to the ongoing cost-of-living crisis.
In its half-year results, the group revealed a pre-tax loss of £147.3 million, compared with £95.4 million a year earlier.
Adjusted EBITDA losses almost trebled year-on-year, from £25.8 million to £67.9 million.
The group also saw a growth in sales by gross transaction value (GTV) to 2% on a constant currency basis in the second quarter, down from 12% in the previous three months.
READ MORE: Asda partners with Deliveroo to provide rapid grocery deliveries
According to the group its grocery offering strengthened with expanded and new partnerships in the UK and Ireland with Waitrose, Sainsbury’s, Co-op, Asda and Spar.
“So far in 2022, we have made good progress delivering on our profitability plan, despite increased consumer headwinds and slowing growth during the period,” Deliveroo founder and chief executive Will Shu said.
“We are confident that in H2 2022 and beyond we will see further gains from actions already taken, as well as benefits from new initiatives.”
Deliveroo also revealed non-executive director Lord Wolfson has quit from the board with immediate effect.
Wolfson served as a non-executive director at Deliveroo last January, ahead of its London IPO.
“After much consideration, and with regret, I believe that the time required to continue in my role at Deliveroo is no longer compatible with my executive and other commitments,” Wolfson said.
“I have enjoyed my time working with Will, the executive team and my board colleagues over the past 18 months and wish the company all the best for the future.”
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