Just Eat, the online takeaway ordering platform, just announced their financial results for 2014. To say the least, they were pretty impressive. The quick summary was:
- Profit (EBITDA) up 131% to £32.6m
- Turnover up 62% to £157m
- Orders taken up 52% to 61.2m
- 71% of revenue comes from the UK
There are mixed views from within the independent takeaway sector in Ireland on Just Eat. On the positive side, online ordering of takeaway food is growing rapidly in tandem with the use of smartphones and mobile devices, and having an online ordering option seems like a no-brainer. On the negative side, it’s difficult not to feel that orders are simply switching from offline to online with little real growth in turnover. In addition, the online turnover is worth at least 10% less because of the commission fees to Just Eat. Next issue we’ll have a more in-depth review with views from industry experts.