Just Eat shares drop despite strong end to the year

17 January 2024 , 13:01

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Just Eat has delivered its best ever final quarter figures (Image: PA Media)

Just Eat's parent company has reported its best ever final quarter last year in the UK and Northern Europe, despite struggling elsewhere. The firm revealed that gross transaction value (GTV) had risen 5% to 1.78 billion euros (£1.53 billion) in the UK and Ireland.

However, shares in the business fell 2.6% on Wednesday morning. "We are excited that both our Northern European and UK and Ireland segments have achieved their all-time high quarterly GTV level, showing the strength of our European business," said chief executive Jitse Groen.

Just Eat has said they're still thinking about selling the Chicago-based subsidiary Grubhub. Big investor Cat Rock has been asking for this since 2021, which wasn't long after Just Eat got Grubhub for a huge $7.3 billion (£5.75 billion now).

The businesss said: "Management, together with its advisers, continues to actively explore the partial or full sale of Grubhub. There can be no certainty that any such strategic actions will be agreed or what the timing of such agreements will be. Further announcements will be made as and when appropriate."

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