Deliveroo PLC on Thursday reported revenue and transaction value growth in the fourth quarter of 2024, helping the firm achieve the upper end of its adjusted earnings guidance for the year.

The London-based food delivery company said revenue in the fourth quarter rose 6% year-on-year in constant currency to £545million from £523 million.

Gross transaction value increased by 7% to £1.97 billion from £1.86 billion, while orders grew by 3% during the quarter.

Shares in Deliveroo were up 4.8% at 135.60 pence each in London on Thursday morning.

For the full-year, Deliveroo said gross transaction value increased by 6% to £7.43 billion from £7.06 billion, in line with its guidance range of 5% to 9%.

The company expects adjusted earnings before interest, taxes, depreciation, and amortisation for 2024 to be at the upper end of its £110 million to £130 million guidance range. It also confirmed it had a ‘positive’ free cash flow for the year, in line with guidance.

In the UK and Ireland, gross transaction value rose 9% year-on-year during the fourth quarter, supported by a 5% increase in orders. In its international markets, gross transaction value grew 5% during the quarter.

Founder & Chief Executive Officer Will Shu said: ‘Our continued execution has driven improved frequency and retention in the fourth quarter, with order growth improving throughout the year in the UK and Ireland.

‘Our execution has also continued to deliver profitable growth, with Ebitda expected to be towards the top end of our guided range. We see many exciting opportunities ahead with significant growth potential for Deliveroo.’

Deliveroo will provide guidance for 2025 at its full-year results on March 13.

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