Deliveroo has recorded an 8% annual increase in revenue, totalling £1.04bn in the six months to 30 June, as the firm nears a takeover by US company, DoorDash.

The food delivery company found that its orders had jumped by 8% in this period, which it said was driven by further execution of its growth initiatives and a more resilient than expected consumer.

Furthermore, its EBITDA increased by 46% to £96m, as a result of marketing efficiencies and operating leverage.

However, Deliveroo recorded a loss of £19.2m, following a profit of £1.3m. The firm said that this was a result of exceptional items that relate to costs associated with the DoorDash acquisition. Its profits totalled £31.8m before any deal related charges.

Founder and chief executive officer at Deliveroo, Wil Shu, said: "The first half of this year was very positive. Our long-term focus on improving the CVP is paying off. Consumer engagement is encouraging, with order frequency and retention continuing to improve across all cohorts.

"Today, both growth and profitability are accelerating. We are delivering on our mission to change the way people shop and eat and to bring the neighbourhood to people's doors. I'm proud of where we are and all that we have achieved. We helped to build an entire sector and have redefined it multiple times over."

Deliveroo is targeting a gross transaction value growth in the mid-teens per annum in the medium term.

Furthermore, it is expecting an EBITDA margin of around 4% in the mid-term, with margin improvement accelerating from 2026.

Looking ahead, Shu said that he is "excited for what the partnership with DoorDash can bring in the future”, adding that it will be an "excellent partnership for everyone at the company".

Head of financial analysis at AJ Bell, Danni Hewson, concluded: "It is a bitter irony for shareholders in Deliveroo that, having endured a bumpy ride since joining the market four-and-a-bit years ago, it is showing signs of finding a smoother path just as it is about to head for the exit.

"With its takeover by US peer DoorDash looking set to complete later this year, Deliveroo is showing decent order growth but also, perhaps more significantly, in underlying earnings, margins and cash flow. These are areas which have proved sticking points for the market with Deliveroo in the past.

"Its prospective new owner DoorDash posted its own impressive earnings overnight and delivered encouraging guidance which suggests the online delivery market is in decent health in general despite the uncertain economic backcloth."

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