Takeaway delivery firm Deliveroo has posted a £245.6m loss for the past year as order growth slowed.
However, the operating loss for 2022 was still 15% smaller than the £290.1m loss it recorded a year earlier.
Deliveroo also told investors on Thursday morning that profitability improved during the second half of the year, with earnings “significantly ahead of expectations”.
It came as the company also revealed a 9% rise in gross transaction value to £6.8bn, as orders slowed following the reopening of restaurants and pubs after lockdowns.
Will Shu, founder and chief executive officer, said: “I’m proud of our performance in the past 12 months.
“Our team has delivered in difficult market conditions, with continued growth and share gains in our key markets.
“The macroeconomic outlook for the year ahead remains uncertain, but our record in the past 12 months makes me optimistic about our ability to adapt and continue to deliver on our plans to drive profitable growth.”
The London-listed group said transaction value growth is expected be in the “low to mid-single digits” during 2023, with a “broadly flat” first quarter before growth improves.
Last month, the business revealed plans to cut about 350 roles, predominantly affecting UK-based employees.