Earnings

Losses climb 50%, firm to exit Netherlands

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A Deliveroo rider near Victoria station on March 31, 2021 in London, England.

Dan Kitwood | Getty Images

Losses at British meal delivery firm Deliveroo swelled in the first half of 2022 while revenue growth slowed dramatically, as the disappearance of pandemic restrictions and a rise in the cost of living dented demand for online takeout.

Deliveroo reported a pretax loss of £147.3 million ($178 million) in the first six months of the year, up 54% from the same period a year ago. The losses were driven mainly by increasing spending on marketing and overheads.

Revenues at the company climbed 12% to £1 billion. That was much slower than the revenue growth that the firm reported in the first…



Source cnbc.com

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