Takeaway giant Deliveroo has revealed record losses of £300million last year as they warn of “headwinds” over inflationary pressure and the economic impacts of the Ukraine crisis.
The report is followed by a monumental £213million loss from 2020, but the company said they will continue their growth plans for heavy investment.
The delivery specialist also reported a 67 percent jump in transaction value to £6.6billion, driven by a 73 percent increase in order numbers.
A Deliveroo cyclist
Deliveroo Press
A Deliveroo motorist
Deliveroo Press
Will Shu, founder and chief executive officer of Deliveroo, said he is proud of the group's performance in 2021 as they have "continued to make good progress" in executing their strategy.
Mr Shu said: “Particularly encouraging to me was our performance in the UK and Ireland, where we continued to grow our market share and achieved profitability on an adjusted earnings basis in a competitive environment – highlighting the strength of our consumer value proposition.
“At the same time, this year it is clear that all three sides of our marketplace in Europe will face headwinds due to inflationary pressures, the removal of economic stimulus and the broader geopolitical and economic impacts of the conflict in Ukraine.
“We will continue to monitor developments closely.
“Our 2022 guidance reflects our caution on these factors, but we are confident in our ability to adapt financially to a rapidly changing macroeconomic environment.”