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Just Eat orders rise rapidly in first quarter

Published: 08:06 05 May 2015 BST

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Takeaway app specialist Just Eat (LON:JE.) has seen first quarter orders rise by 51%, the second year in a row that business over the period has risen by more than 50%.

Meanwhile, like-for-like orders were 47% higher than the previous year for the company, which takes commissions from the restaurants on each order processed via the online platforms.

The rapidly expanding company has outperformed expectations since it floated on the London Stock Exchange in April 2014, with its share price climbing 57% over the timeframe to 458p.

David Buttress, chief executive said: "I am delighted with the company's performance over the first quarter. The team has worked very hard in all our markets to achieve these results. 

“I am also pleased to see the continued shift of consumers to the ease and convenience of ordering food through Just Eat’s apps and websites."

During the quarter the London-based company aimed at expanding in South America where it acquired a Mexican takeaway business and upped its stake in its Brazil joint venture with iFood.com by 5% to 30%.

The figures include orders from the Mexican business acquired in February but exclude orders taken by the joint venture in Brazil.

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