Just Eat Takeaway.com NV (LSE:JET, NASDAQ:GRUB) shares eased lower as growth in the third quarter came in at the bottom of its guided range for the year.
Excluding the US, gross transaction value or GTV was 2% compared to a forecast range of 2-6%.
On a reported basis, growth for the period was 4% year-on-year with the UK and Ireland arm and Northern Europe now representing circa 60% of orders and, seeing improvement of 6% and 4% respectively.
Southern Europe and Australasia saw GTV drop by 12%.
Just East maintained overall guidance for the year with underlying profits [adjusted EBITDA] of €450 million forecast and free cash flow to be positive.
Management is still trying to sell its US arm Grubhub, added the statement.
Jitse Groen, chief executive, commented: “Northern Europe and the UK and Ireland continued their positive momentum.
“In line with our strategy to diversify, several new partnerships were launched across adjacencies like grocery, pharmacy and wellness in many of our markets.
“We are well on track to deliver our guidance for the full year."