StockMarketWire.com - Food delivery group Deliveroo upgraded is annual guidance for transaction values, but left is margin expectations unchanged.

The company said gross transaction value had risen 58% year-on-year in the third quarter in constant currency.

Orders, it added, were resilient despite reopening, with a modest reduction in average order value.

Full-year gross transaction value growth was now expected to be 60-70%, versus prior guidance of 50-60%.

Gross profit margin, as a percentage of gross transaction value, still was expected in the range of 7.50% to 7.75%.

'We have continued to make good progress executing against our strategy, resulting in strong performance in the third quarter,' chief executive Will Shu said.

'This quarter we have partnered with Amazon to offer their Prime customers in the UK and Ireland access to our Deliveroo Plus subscription programme.'

'We have also successfully launched a new rapid grocery service, Deliveroo Hop, in partnership with Morrisons.'

'While we are mindful of current and potential macroeconomic disruptions and uncertainties, we expect further strong performance in the remainder of the year and we are increasing our full year GTV growth guidance.'

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