The delivery app’s interim results showed a small profit after tax of £1.3 million for the first six months of 2024, turning round a first-half loss of £82.9 million in the previous year, as well as marking its first period of positive cash flow.
That means the company, founded in 2013, has seen its first 12-month period of profitability after its net income hit £46.7 million in the second half of last year, but has not yet made a profit for a full financial year.
Co-founder and CEO Will Shu told the Standard: “We hit two very important concurrent milestones [and] for the company we view this as a bit of an inflection point.
“Usually I don’t talk about financial metrics or outputs as a point of discussion but I think in this case it is important. We’ve seen that we can improve profitability as we’re growing’”
هذه القصة مأخوذة من طبعة August 08, 2024 من Evening Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة August 08, 2024 من Evening Standard.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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