(Alliance News) - Deliveroo PLC on Thursday said it has delivered "significant" improvements toward profitability during 2022, despite a difficult consumer environment.

For the full year, the London-based delivery services firm said gross transaction value increased to GBP7.08 billion for all operations, including results from Australia and the Netherlands until operations there ended in November 2022. This represents year-on-year growth of 7% in reported currency and 5% in constant currency. Excluding operations in Australia and the Netherlands, the business saw 9% growth, or 7% in constant currency, to GBP6.85 billion.

In the UK & Ireland, the company saw a 9% growth in gross transaction value to GBP1.03 billion in the fourth quarter. For 2022, GTV rose 8.9% to GBP3.89 billion from GBP3.57 billion in 2021.

Deliveroo now expects to report an adjusted earnings before interest, tax, depreciation and amortisation margin as percentage of gross transaction value of negative 1.0%. This is better than previous guidance of between negative 1.2% to negative 1.5% and also improved from 2.0% in 2021.

The company will release its 2022 results and guidance for 2023 on March 16.

"Amidst an uncertain outlook for 2023, we remain confident in our ability to adapt financially and to make continued progress on our path to profitability," said Founder & Chief Executive Officer Will Shu.

Deliveroo shares were 1.3% higher at 93.29 pence each in London on Thursday morning.

By Tom Budszus, Alliance News reporter

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