Shares in Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) gobbled up 7% gains to 1,480p on Wednesday morning after its first-half profits beat expectations as European business returned to growth.
The Anglo-Dutch group also said chief financial officer Brent Wissink will be stepping down next year after over a decade at the company.
Gross transaction values at its Northern Europe and UK & Ireland businesses returned to growth in the second quarter, the company said, and it is "fast approaching" targeted levels of positive free cash flow.
Group revenue of €2.6bn was down 6%, with Northern Europe growing 9% but UK&I down 1% and the larger North America arm shrinking 13%.
It swung back to underlying profits (EBITDA)] of €143mln from losses of €134mln a year ago, better than the €128mln consensus forecast, even though orders fell 12% as expected to 450mln.
UK and Ireland were said to be on track to reach a similarly high adjusted EBITDA margin as Northern Europe.