Deliveroo Reports First-Ever Profit, Boosting Shares

The food delivery firm achieved a £1.3 million profit in the first half of 2024, driven by increased consumer demand and growth in grocery and retail deliveries.

Deliveroo's shares rose by over 10% following the profit announcement.
The company saw a 2% increase in orders and a 6% rise in gross transaction value.
Deliveroo expanded its partnerships with major brands, enhancing its grocery and retail delivery services.
A £150 million share buyback program was announced to return cash to investors.
Despite profitability, Deliveroo continues to face scrutiny over the treatment and pay of its self-employed riders.