Just Eat Takeaway.com raised its 2023 adjusted core profit outlook on Wednesday, saying it continues to make good progress on delivery-led operational improvements and is now ahead of plan.

Europe’s biggest meal delivery company expects adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of €275 million in 2023. It had in January guided for adjusted EBITDA of €225 million euro.

Furthermore, the company said it expected its gross transaction value (GTV) growth to be in a range of -4 per cent to +2 per cent year-on-year in 2023.

The food delivery sector was one of the big beneficiaries of the Covid-19 pandemic, but that effect has waned as consumers, faced with surging prices, have started to cut back.

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The Dutch-listed firm reported total orders of 227.8 million in a first-quarter trading update, 14 per cent below last year’s level, and a GTV of €6.67 billion, down by 8 per cent year-on-year. - Reuters

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