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’”
Denne historien er fra August 08, 2024-utgaven av Evening Standard.
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Denne historien er fra August 08, 2024-utgaven av Evening Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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