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Deliveroo reduces losses, plans shareholder payout

Deliveroo losses
Image credit: Clare Louise Jackson / Shutterstock.com

Food delivery app Deliveroo significantly cut losses in the first half of the year and said it is considering paying its first dividend to shareholders as it closes in on profitability.

The London-listed company said losses stood at £83m, down from £153m a year ago. Deliveroo added that it achieved profitability “ahead of expectations” using an adjusted EBITDA metric.

“Given we’re well ahead we’re confidently saying we’re going to propose a return to shareholders,” said Will Shu, founder and CEO of Deliveroo.

The British tech company, which debuted on the London Stock Exchange in 2021 in a lacklustre IPO, said it was exploring ways to return an additional £250m of “structural surplus capital” to shareholders.

Shu said this could be via a special dividend, share buyback or tender offer....

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