Just Eat sees profits almost treble as orders surge

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Online takeaway service Just Eat has seen first half profits almost treble after it expanded the number of restaurants it has tie-ups with.

Pre-tax profit rose to £8.6m from £3.1m, while revenues jumped 58% to £69.8m in the six months to the end of June.

The firm added 4,400 new restaurants to its books and now has 40,800 in total.

It makes money from commissions charged to restaurants on the value of orders placed through its website.

The company said it was confident its rapid growth would continue.

"I am delighted with our excellent progress. It has been an exciting period for Just Eat," said chief executive David Buttress.

Just Eat operates in 13 countries, but said the UK still accounted for almost three quarters of its sales.

It said the "particularly wet period of winter weather" in the UK in the first two months of the year, boosted orders as consumers chose to stay indoors.

Its average revenue per order was now £2.26, up from £2.10 in the same period a year ago.

Shares rose over 8% in early trading.