Shares jumped on Thursday. That's after the British meal
delivery company said it had achieved two milestones in the
first half of the year. Positive net profit and
free cash flow. The upbeat result came as demand
from customers stabilized but the firm's CEO will. Xu
said while customer sentiment was more stable, it would
be a stretch to call it positive. The group
reported net profit for the first half of$1.65 million
compared to a loss of over$105 million a year
ago and positive free cash flow of over$4 million
for the period. Deliveroo upgraded its forecast for full
year core earnings following a better than expected 57% rise
in the first half. The group also announced a
new$190 million buy back program shares in Deliveroo which
competes with Uber Eats and just eat takeaway jumped to
heights of 9% in morning trading.