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Just Eat Q1 Revenues Up 28%; Reiterates FY19 Outlook - Quick Facts

Just Eat plc (JE.L) reported Friday that its first-quarter revenues rose 28 percent to 227.9 million pounds from last year's 177.4 million pounds. Constant currency revenue also increased 28 percent from last year.

Reported Group orders for the quarter increased 21 percent from the year-ago period to 61.4 million on a like for like basis, driven by continued marketplace leverage and an acceleration of delivery initiatives.

UK orders increased by 7.4 percent to 31.9 million and was impacted by three factors. These are a strong comparator, including Hungryhouse before integration and expected attrition of their customer base; the unseasonably warm weather in February; and Easter falling entirely in the second quarter this year.

International orders were up 40 percent from the prior year to 29.5 million, fueled by good growth in Canada, Italy, Switzerland and Ireland.

Looking ahead, Just Eat reiterated its outlook for full-year 2019 revenue in the range of 1.0 billion pounds to 1.1 billion pounds, and uEBITDA in the range of 185 million pounds to 205 million pounds, both excluding Brazil and Mexico.

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