Deliveroo PLC (LSE:ROO) delivered a strong set of interim results, but its shares were unmoved on Thursday due to shareholders having approved a takeover by US peer DoorDash.
Underlying EBITDA for the first half of 2025 grew 46% to £96 million, which was around 12% ahead of the average City analyst forecast, when excluding deal fees from the DoorDash bid.
On a reported basis, the company swung to a £19.2 million loss from a profit of £1.3 million a year ago, primarily due to costs associated with the DoorDash deal. Profit for the period before any deal-related charges was £31.8 million.
CEO Will Shu said: "Consumer engagement is encouraging, with order frequency and retention continuing to improve across all cohorts.
"Today, both growth and profitability are accelerating. We are delivering on our mission to change the way people shop and eat and to bring the neighbourhood to people's doors."
Boker Panmure Liberum said: "Overall, a very strong first half from Deliveroo which highlights the exceptional quality of the UKI business. This will be a European kingmaker asset for Doordash should the bid go through (it has received shareholder approval but awaits regulatory approval - we don't anticipate any challenges obtaining that).
"While we had thought Amazon might counterbid, clearly that scenario has not materialised."