BUSINESS CLOSE: FTSE finishes flat; Deliveroo orders soar; AJ Bell builds on customer growth; Entain betting revenues stall
The FTSE 100 has ended the day just 5 points lower at 7,585, while the more UK-focused FTSE 250 closed up 59.96 points, or 0.3 per cent, at 22,714.98.
Food delivery company Deliveroo saw the gross transaction value of orders on its platform rise 36 per cent year-on-year in the fourth quarter of 2021, resulting in it hitting the top of its guidance range with a 70 per cent rise for the year.
Food delivery boomed during the Covid-19 pandemic when pubs and restaurants were closed, and the popularity of the platforms has not faded since hospitality reopened.
Investment platform AJ Bell’s total customer numbers increased to 398,066, up 27 per cent over the last year and 4 per cent in the fourth quarter.
Total assets under administration increased to £75.6billion, up 21 per cent over the last year and 4 per cent in the quarter, as AJ Bell performed well against tough comparative results on the prior year when Covid restrictions helped to drive total customer growth, gross inflows and net inflows to record levels
British gambling firm Entain’s quarterly revenue from online betting slipped after years of steady growth, while betting activity at its physical shops bounced back on easing of coronavirus restrictions.
Entain’s online net gaming revenue fell 9 per cent year-over-year in the fourth quarter ended 31 December, as it reported particularly strong numbers a year earlier.
Deliveroo order numbers grew 10% compared to the previous quarter and the average value stabilised, up by 1% in constant currency on Q3 to £21.40