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The continuing madness of Deliveroo

I am a bit of an easyJet (EZJ) fan even if it is over two years since I last was on one of its planes. Tom may be more of an expert on actually getting on its planes more recently given his regular trips to the Hellenic Republic. As for today’s announcement of its reduced H1 losses to a “range of £535-565m for the 6 months ended 31 March 2022", believe me it could have been a lot worse and the key remains the number of trips over the next six to eighteen months. The shares are little changed today at just shy of 550p but I am still hopeful of a run at 800p, which keeps it a Buy for me. By contrast, I see Deliveroo (ROO) goes from one shocker to another…


Deliveroo sales growth forecasts may have been increased, but…

First a few words on today’s announcement by Burberry (BRBY) whose shares I have made money on a number of times over the past decade (despite never buying anything from the fashion company although I was in one of its stores briefly a while ago). Interesting to read that it has announced ‘the appointment of Jonathan Akeroyd as Chief Executive Officer and Executive Director’. He apparently is currently the CEO of Milan-based Gianni Versace SpA, which I reckon means he will make a lot more money. Good luck to him. Italy may have a bunch of economic growth challenges, but in terms of the fashion industry it is way smarter than average. Still waiting for a return to the 23 quid share price level the shares were last at in 2019, hence still a buy for me. One stock I have never purchased is Deliveroo (ROO)...


Deliveroo: still delivering a lack of profitability

I reckon that Deliveroo (ROO) has delivered to my home once.  It was okay but - in my view - a bit of a rip off, but it was something a bit different for the family to try.  As for Deliveroo shares I have never owned them, regarding the IPO a few months ago as being at a bonkers price.  Since the share price low of early April, the stock has pushed up but if you did participate in the IPO in March, then you are still losing money. Last month here I wrote some thoughts on its ‘progress’ but observed that I was still avoiding the shares as ‘the underlying reality answer we all need to figure out is where profitability is going to be in full year 2021 and 2022’.  That’s the trouble with a company where the mention of ‘gross profit’ means that it is all going to be comedy EBITDA centred (at best).

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