Deliveroo PLC (LSE:ROO) (Deliveroo PLC (LSE:ROO)) said it expects adjusted earnings to be slightly ahead of guidance after a return to growth in its international arm.
The food delivery outfit said gross transaction value (GTV) growth of 3% was in line with guidance of lower single-digit percentage growth in constant currency.
Adjusted Ebitda is expected to be slightly above the £60-80 million guidance range.
In the fourth quarter, Deliveroo said GTV growth remained resilient, with an improving trend in orders with GTV up 4% year-on-year (YoY) constant currency.
Order growth improved slightly to flat YoY, while food price inflation moderated, but with GTV per order still up 4% YoY in constant currency.
UK and Ireland GTV growth was 7% YoY, with underlying GTV trends remaining steady.
International GTV returned to growth of 1% YoY in constant currency, with improving trends in most markets and continued strength in Italy and the UAE.
Group revenue growth of 1% in constant currency lagged GTV growth due to a mix shift in marketing spend towards promotional marketing activity, as well as some targeted investment in consumer fees, to capitalise on ongoing signs of stabilisation in consumer behaviour.