Sales soar at Deliveroo but profits fall again

Deliveroo’s profits have taken another hit following another year of heavy investment and expansion. After revealing pre-tax losses of £199m in 2017, the online delivery outfit said pre-tax losses had fallen further to £232m for the year to 31 December 2018. The business said it had “continued to invest heavily” in its service in order to fund further expansion in terms of restaurant numbers in existing markets, including the UK where it plans to launch in another 50 towns and cities in 2019.