Deliveroo losses widen on costs

Deliveroo has reported another year of soaring sales, but losses also ballooned as the food delivery firm invested in expansion.

Revenue rose 116 per cent to £277 million in 2017 as gross profit leapt from £1m to £64.3m, according to annual results. But pre-tax losses widened from £129.1m in 2016 to £184.7m as Deliveroo counted the cost of “major investments”.