Deliveroo PLC (LSE:ROO) shares gained over 4% on Thursday on news orders had continued to grow during the third quarter.
Gross transaction value grew by 6% to £1.78 billion on a constant currency basis over the third quarter as orders climbed by 2% to 71.1 million, Deliveroo reported on Thursday.
This came as gross transaction value in the UK and Ireland jumped 7%, while the figure climbed by 4% among international markets.
Deliveroo noted trading in the UK had benefited from a “more stable but still uncertain consumer environment”.
Temporary disruption in France during the Olympics and competitive conditions in Hong Kong were offset by strong growth in the UAE and Italy, Deliveroo added.
“Our results demonstrate another solid quarter of growth,” chief executive Will Shu said.
“[UK and Irish] growth remains healthy with improving order trends, and overall we are pleased with the underlying growth [internationally], driven by the UAE and Italy.”
Group revenue ticked up 4% to £498 million in constant currency, with Deliveroo reiterating full-year guidance for positive cash flow and adjusted earnings of £110 million to £130 million.
“While the company is unlikely to see the same performance boom of the lockdown era, there are encouraging signs that the growth path the company is now on is much more robust and far less vulnerable to economic shocks,” eToro analyst Mark Crouch noted.
Shares climbed 4.7% to 153.8p early on.