Deliveroo PLC (LSE:ROO) upgraded full-year revenue guidance after the strong trading seen in the first half continued into the third quarter, as the group reaped the benefits of its tie-ups with Amazon and Morrisons.
The food delivery service expects full-year gross transaction value (GTV) to climb 60-70% instead of 50-60% previously announced, while gross profit margin forecasts remain unchanged at 7.5-7.75%.
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In the third quarter, GTV surged 54% to £1.5bn, with orders up 64% to 74mln. GTV per order shed 6% to £21.40, with average order values returning to pre-pandemic levels.
During the quarter, the tech unicorn partnered with Amazon to offer its Prime customers in the UK and Ireland to sign up for free Deliveroo Plus membership for a year, with unlimited free delivery on orders over £25/€25.
Since the launch on 15 September, the number of Plus subscribers in the two countries has more than doubled.
The group also launched 'Deliveroo Hop' with Morrisons to deliver groceries via the app.