" \\r\\n<br><div id=\\"RegularArticle-ArticleBody-5\\" data-module=\\"ArticleBody\\" data-test=\\"articleBody-2\\" data-analytics=\\"RegularArticle-articleBody-5-2\\"><span class=\\"HighlightShare-hidden\\" style=\\"top:0;left:0\\"\\\/><div class=\\"InlineImage-imageEmbed\\" id=\\"ArticleBody-InlineImage-106868658\\" data-test=\\"InlineImage\\"><div class=\\"InlineImage-wrapper\\"><div><p>A Deliveroo rider's bike near Victoria station on March 31, 2021 in London, England.<\\\/p><p>Dan Kitwood | Getty Images<\\\/p><\\\/div><\\\/div><\\\/div><div class=\\"group\\"><p>LONDON \\u2014 <a href=\\"https:\\\/\\\/www.cnbc.com\\\/quotes\\\/ROO-GB\\" target=\\"_blank\\" rel=\\"noopener\\">Deliveroo<\\\/a> doubled orders in the first half of 2021, as appetite for food delivery services held up even as coronavirus restrictions eased.<\\\/p><p>The British food delivery company reported orders of 148.8 million in the six months to June 30, up from 74.5 million in the same period a year ago.<\\\/p><p>The total value of transactions on Deliveroo's platform doubled to \\u00a33.4 billion, while revenues climbed 82% to \\u00a3922.5 million ($1.3 billion).<\\\/p><p>Meanwhile, Deliveroo also narrowed its losses. The firm posted a pre-tax loss of \\u00a3104.8 million in the first half, down from the \\u00a3128.4 million it lost in the first six months of 2020.<\\\/p><p>It's the first time Deliveroo has reported results since its <a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/03\\\/31\\\/deliveroo-ipo-amazon-backed-firm-starts-trading-in-london-today.html\\">disastrous initial public offering<\\\/a> in March.<\\\/p><p>The company fell as much as 30% in its first day of trading, as investors worried about the sustainability of its business model and concerns over the gig economy, in which Deliveroo is a major player.<\\\/p><p>Deliveroo shares fell 4% Wednesday. Still, the stock is up around 4% so far this week, boosted by news that German rival <a href=\\"https:\\\/\\\/www.cnbc.com\\\/quotes\\\/DHER-DE\\" target=\\"_blank\\" rel=\\"noopener\\">Delivery Hero<\\\/a> has <a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/08\\\/09\\\/deliveroo-shares-rise-after-german-rival-takes-stake-in-the-business.html\\">bought a 5.1% stake<\\\/a> in the firm.<\\\/p><p>Niklas \\u00d6stberg, Delivery Hero's co-founder and CEO, said his company felt Deliveroo was \\"undervalued\\" after being \\"oversold\\" in its IPO.<\\\/p><p>Europe's food delivery companies are under <a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/07\\\/27\\\/just-eat-takeaway-faces-pressure-from-a-top-shareholder.html\\">growing pressure to consolidate<\\\/a> as the competition intensifies. The <a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/05\\\/12\\\/getir-gorillas-and-dija-speedy-grocery-delivery-apps-invade-europe.html\\">rise of on-demand grocery delivery start-ups<\\\/a> like Getir and Gorillas has put incumbent players <a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/07\\\/02\\\/grocery-startups-vc.html\\">on edge<\\\/a>.<\\\/p><p>Last week, Estonian ride-hailing firm Bolt said it <a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/08\\\/02\\\/uber-rival-bolt-valued-at-4point75-billion-in-new-funding-round.html\\">planned to push into the online grocery delivery industry<\\\/a> after raising 600 million euros ($702.8 million) of fresh funds from investors.<\\\/p><p>Deliveroo is also investing heavily in grocery. The company said Wednesday that its gross margin fell to 7.8% in the first half from 8.8% a year earlier as it ramped up spending on grocery delivery.<\\\/p><\\\/div><\\\/div>\\r\\n\\r\\n<br><a href=\\"https:\\\/\\\/www.cnbc.com\\\/2021\\\/08\\\/11\\\/deliveroo-doubles-orders-in-first-half-of-2021.html\\">Source link <\\\/a>"