​Deliveroo expect return to pre-Covid volumes

Deliveroo saw a huge surge in orders in the second quarter and has increased its expectations.

Orders grew 94% year on year in the UK and Ireland to 38m in the three-month period to 30 June.

International grew 83% to 40m and group orders grew 88% to 78m.

Group year-on-year gross transaction value (GTV) increased 76% in the second quarter to £1.74bn – up 81% in constant currency.

GTV in the UK and Ireland grew 87% to £921m, or at 88% in constant currency.

The group’s international GTV increased 65% to £818m (75%).

The company said it had increased expectations for the second half because of continued strong growth and consumer engagement in the first half.

It said it was increasing the guidance for the full year annual GTV growth from between 30% and 40% to between 50% and 60%.

The restaurant food delivery brand said it saw an opportunity to make further discretionary investments into growth opportunities in the second half, although it expected average order levels would revert towards pre-Covid levels.