(Adds details, CFO comment, share price)
LONDON Aug 12 Online takeaway service Just-Eat
Group reported an almost seven-fold jump in half-year
profit as the business expanded in Britain and Denmark, its two
Just-Eat, which joined the London stock market in April,
added more restaurants to its network and benefited from
investment in its technology platform, with the share of orders
made using mobile devices exceeding 50 percent for the first
Shares in Just Eat were trading 7 percent higher at 236
pence at 0754 GMT, still well below its market debut price of
The company said core underlying earnings gained 591 percent
to 15.9 million pounds ($26.65 million) in the first six months
of the year on revenue that was 58 percent higher at 69.8
"Our growing network of more than 40,000 restaurant partners
combined with 6.9 million active users provides further momentum
to fuel our expansion through the remainder of 2014 and beyond,"
Chief Executive David Buttress said in a statement on Tuesday.
"The share price is to a large extent out of our control.
We'll focus on growing the business, making it more profitable,
and hopefully the share price will then follow," Chief Financial
Officer Michael Wroe told reporters on a conference call.
The FTSE-250 company saw growth in its
second-biggest market, Denmark, driven by a rise in orders and
gradually increasing commission rates.
The group has a presence in 11 other countries including
Ireland, Canada and Spain.
($1 = 0.5967 British Pounds)
(Reporting by Sarah Young and Karolin Schaps; Editing by Erica