August 12, 2014 / 7:56 AM / in 3 years

UPDATE 1-Britain's Just Eat profit soars as mobile orders take off

(Adds details, CFO comment, share price)

LONDON, Aug 12 (Reuters) - 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 biggest markets.

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 time.

Shares in Just Eat were trading 7 percent higher at 236 pence at 0754 GMT, still well below its market debut price of 260 pence.

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 million pounds.

“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 Billingham)

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