Just Eat Takeaway has upgraded its earnings forecast and expects to achieve cash flow break-even in the second half of 2023.
The London-listed takeaway platform upgraded adjusted earnings guidance to approximately €310m (£269m), up from a previous forecast of €275m (£238m).
Just Eats’ third-quarter results were boosted by a 5% rise in UK and Ireland gross transaction value (GTV) – a metric to measure order size.
However, GTV fell by more than 11% in North America, Just Eats’ largest market.
Globally, Just Eat Takeaway reported just under 218 million orders, down by 7% from the same period last year.
It comes after the London-listed food delivery company implemented cost-cutting measures, including axing almost 2,000 jobs from both head office and its fleet of couriers....