Business
Deliveroo’s sharemarket debut a flop as investors lose appetite – Sydney Morning Herald
The London-based company’s shares slid even after they were priced at the bottom of the potential range, reflecting investor wariness about whether Deliveroo could…
Deliveroo has never turned a profit since it was founded in 2013 though it benefited last year from the coronavirus pandemic, which helped narrow its annual loss to $US309 million ($406 million). Lockdown restrictions sent demand for takeout food soaring and increased its overall transactions, but analysts wonder if the lift will last.
The pandemic has offered a structural growth opportunity, but its worth asking if lockdowns mean things are as good as they will ever be for a takeaway service.
Hargreaves…
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