DELIVEROO SALES: £128m LOSS: £129m

A 611pc boost in sales was not enough to stop takeaway delivery firm Deliveroo from making a £129m loss.

The British tech company, which pays thousands of couriers to deliver food for restaurants in 12 countries, has been rapidly expanding, and figures have now laid bare the cost.

Accounts reveal that its revenues rocketed from £18.1m in 2015 to £128.6m last year. But its costs rose even more, taking it from a £30.1m loss to one of £129.1m. It also paid no tax, according to the documents filed with Companies House.

The costs included £142.2m in ‘administrative expenses’, partly thanks to the number of delivery riders on Deliveroo’s books increasing from 5,700 to almost 26,500. According to the accounts, it also raised £208m from investors.