Deliveroo making ‘positive’ progress in key UK market – Davy analysts

Deliveroo reported total revenue of £1.97 billion, up 14 per cent on 2021, according to the group’s annual results

Revenue for the UK and Ireland came in at £1.1 billion for the year. Adjusted earnings for the two markets was £157.9 million. Picture: Getty

Online delivery platform Deliveroo has made “real progress” in its key UK market, according to analysts.

Execution has been “positive,” there has been a meaningful transition to positive adjusted earnings, and the balance sheet remains robust, analysts at stockbrokers Davy said in a note following annual results from Deliveroo.

“Deliveroo has demonstrably stayed in the game and seems well placed to be a meaningful player in the UK,” David Reynolds, Alex Short, James Musker, and ...