Deliveroo needs to fall back | News

British food company Deliveroo is slowing down by weaker demand after the boom of the corona crisis and is lowering its annual forecast. Customers tightened their belts due to inflation, Deliveroo explained the weaker development.

In 2022, management expects gross transaction value (GTV) to be four to twelve percent at constant exchange rates, instead of 15 to 25 percent. In the second quarter, GTV growth already slowed to 2 percent from 12 percent in the first quarter. The management, however, confirmed the target margin, which foresees a decline to 1.5 to 1.8 after 2.0 in the previous year. According to analysts, the forecast assumes an annual loss of £ 118m (€ 139m).

Management believes the company is able to adapt financially to the rapidly changing macroeconomic environment through improved gross margin, more effective marketing expenses and tight cost control.

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UK consumer confidence has plunged to an all-time low last month as they struggle with rising costs of living. In response to the crisis, the British are changing their buying habits, switching from supermarkets to discounters and from branded products to cheaper ones.

Deliveroo’s shares are at the lowest level

Deliveroo shares have been in a downward trend for a year and accelerated their downward trend since the end of November. Shares have stabilized over the past few months with no strong backward moves. The MACD (Momentum) is slightly up, supporting the bottom line pattern. However, the technical chart only permanently improves after breaking the resistance at around 130p.

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