Deliveroo has recorded a 7% year-on-year revenue increase in its first quarter, reaching £518m.

The food delivery firm saw its gross transaction value (GTV) jump by 9% annually to £1.87bn, while its number of orders increased by 7%. Its GTV per order also rose by 2% in Q1.

In the UK and Ireland, Deliveroo’s GTV jumped by 9% year-on-year, with orders growing ahead of the market.

Internationally, its GTV growth and orders increased by 7%, with "ongoing strength" in the UAE and Italy, Deliveroo said.

However, the firm revealed that this GTV growth was partially offset partially by "continued softness in France".

Deliveroo said that for the full financial year, its GTV growth is anticipated to be in high single-digits percentage growth in constant currency.

Furthermore, its adjusted EBITDA is expected to be in the range of £170m and £190m, as it "targets investments to capture future growth opportunities".

Founder and chief executive officer at Deliveroo, Will Shu, said: "I am really pleased with our strong start to the year, marked by a 9% year-on-year increase in GTV and 7% growth in orders. This represents a further acceleration from the fourth quarter. We made good strides in both UKI and International and this improvement is a reflection of our relentless focus on enhancing our customer value proposition (CVP).

"Our CVP investments to date are proving successful, as demonstrated by the accelerating growth in order volumes and our monthly active consumers. We continue to have confidence in delivering our guidance for 2025 whilst, like many others, remaining mindful of the uncertain macroeconomic environment."

Following the announcement, Deliveroo's share price jumped by 3.8% to £1.35.

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