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47 085.73

Just Eat the profit: Half year orders up 61%, but share price down by 280 points!

19 July 2021

It is not difficult to feel a degree of sympathy for Just Eat, the Dutch takeaway food delivery service which is listed on the London Stock Exchange. The company has lived in the shadow of Will Shu's London-based dominant force Deliveroo, which made a recoveroo after its embarrassing post-IPO performance, and is omnipresent across the UK in the form of hard-working delivery riders and drivers using both automotive and pedal power.

However, it is Just Eat's time to shine, because the company has been experiencing a growth in market share in the form of a 61% rise in orders in the first half of this financial year, with delivery orders having risen by 733% in the UK alone which is remarkable, especially considering the reopening of restaurants and the previously caged nation of food-loving people headed for the full dining experience rather than paper bags containing food in plastic containers.

The acquisition of Grubhub by Just Eat last month assured Just Eat of its place at the top table of food delivery services in some of the most profitable markets in the world, despite the odious name - don't you hate it when people refer to something as elegant and important as food by the term 'grub?'

Despite this incredible upturn in fortunes, the share price has actually dropped by 280 points this morning, which although appears a lot, is actually just 4.52%, but that is a bizarre situation considering Just Eat's results which are a lot to write home about.

Revenues for the company are set to be an astonishing 28 to 30 billion Euros, showing that a food delivery app is in some ways more lucrative than even some of the most interesting and revolutionary 'big tech' innovations.

With share prices now at around 62 GBP, it is still buoyant, but the small drop is very much contrary to its potential given the remarkable growth over the past six months.

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