LONDON (Reuters) - British takeaway ordering website Just Eat (L:JE) raised its forecast for full year revenue as it reported a better-than-expected first half sales performance both in its home market and overseas.
The fast growing firm, which has seen several management changes this year, on Thursday forecast revenue in 2017 of 500 million pounds to 515 million pounds ($657-$676 million), up from 480-495 million pounds previously.
"We intend to reinvest this revenue outperformance into additional profitable growth opportunities, including further building on the momentum within the business and increased collaboration with branded UK restaurants," Interim Chief Executive and Chief Financial Officer Paul Harrison said.
Just Eat did not change its core earnings forecast for the year of 157 million pounds to 163 million pounds.
Shares in the firm, up 45 percent over the last year, were down 1.2 percent at 701 pence at 0742 GMT, valuing the business at 4.8 billion pounds.
For the six months to June 30 Just Eat's revenue rose 44 percent to 246.6 million pounds as it continued to win share from its largest competitor - the telephone. Orders increased 24 percent to 80.4 million.
"We continue to drive channel shift and are pleased that 75 percent of total orders are now placed on mobile devices," said Harrison, who will revert to his finance role when Peter Plumb, the former boss of Moneysupermarket.com, takes over as CEO in September.
Core earnings - underlying earnings before interest, tax, depreciation and amortisation - rose 38 percent to 73.6 million pounds.
Website traffic and reorder rates increased in both the UK and in overseas markets, which now make up 43 percent of group revenue.