Just Eat orders fall but cutting costs revives its fortunes

Just Eat returned to profit in 2022, despite declining order numbers over the Christmas period.

The multinational food delivery giant told investors it had made a profit of £14m in 2022, recovering from a loss of £350m in 2021.

It reported that order numbers in the final quarter of the year had fallen compared to the same period in 2021, down 12pc to 240m and its UK and Ireland division was down by 10pc to 65m orders. But it attributed its stronger performance to success in cutting costs.

Just Eat also said it was “actively exploring” the sale of its heavily loss-making US subsidiary Grubhub, which it bought for more than $7bn (£6bn) in 2021.