Stock Market News
Deliveroo slashes revenue outlook on deteriorating UK economy
2022.07.18 09:42
FILE PHOTO: A Deliveroo delivery rider cycles in London, Britain, March 31, 2021. REUTERS/Toby Melville
LONDON (Reuters) – British food delivery company Deliveroo on Monday slashed its full-year revenue guidance, blaming a more cautious economic outlook.
The group said its full-year gross transaction value (GTV) growth was now expected to be in the range of 4% to 12% in constant currency versus previous guidance of 15% to 25%.
Deliveroo said second quarter GTV growth slowed to 2% from 12% in the first quarter.
