Online fast food delivery service Just Eat (JE.) expects material earnings growth of between £157m to £163m in 2017, ahead of the £157.4m consensus forecast.
Investors are keen to get a slice of the action as the stock gains 7% to 554p.
WHAT HAPPENED IN 2016?
Operating profit more than doubled from £35.5m to £72.5m in the year to 31 December.
Like-for-like orders at Just Eat are up by 36% from £96.2m to £136.4m over the same period.
This was already revealed in a trading update from January and represents a slowing from the 46% rate put up in 2015.
Combined with the news that CEO David Buttress is stepping down due to urgent family matters this had contributed to share price weakness in early 2017.
INTERNATIONAL EXPANSION
Broker Canaccord Genuity analyst David Amiras is upbeat about Just Eat's prospects, noting the business trades at a discount to other UK internet businesses despite offering 'significantly higher earnings growth'.
He believes its international territories are starting to scale and will become a material source of profits over the next few years.
Over the last year, the company acquired business in Italy, Spain, Mexico and Canada.
Its acquisition of rival hungryhouse in the UK is subject to approval by the Competition and Markets Authority.
