Deliveroo shares sip despite positive 2023 outlook

Shares in Deliveroo (LSE: ROO) dipped 1.1% to 133.30 pence on Friday morning. This comes despite the food delivery services firm saying it expects adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in 2023 to be “slightly above” its previous guidance range of £60 million to £80 million, which would mean improved profitability compared to 2022.

The company also saw gross transaction volume (GTV) growth of 3% in 2022. Deliveroo founder and CEO Will Shu said he was proud of the team’s execution, including launching a new retail offering.

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While shares edged lower on Friday, Deliveroo stock has risen over 45% compared to this time last year. The company will publish full 2023 financial results on March 14th.