Deliveroo reports 36% rise in Q4 gross transaction value

This is despite a difficult yearly comparison when new lockdown restrictions were coming into force.

Deliveroo said its gross transaction value (GTV) rose by more than a third in the fourth quarter of 2021, hitting top of its forecast for 60-70% growth.

Founder and chief executive Will Shu described the performance as "really encouraging", but cautioned that the first quarter of 2022 would be the hardest comparison as many of its markets were in full lockdown in the first three months of 2021.

The average order value of 21.40 pounds (US$29.12) in the fourth quarter decreased 5% year on year, reverting back to pre-COVID levels. However, it was slightly up on the third quarter and the frequency of orders from its 8 million active monthly customers had risen to 3.4 per month, from 3.3 in the third quarter.

The company also maintained its guidance for gross profit margin as a percentage of GTV at 7.5 to 7.75%.