Uber Eats UK has reported a significant increase in profits and revenue for 2023.
- The company’s pre-tax profit rose by 74% to £18.4m from the previous year.
- Turnover expanded by 55%, reaching £1.1bn during the same period.
- Despite rising costs, the company ended the year with a £14m total profit.
- Concerns over reputational risks have been addressed following negative publicity in previous years.
In 2023, the UK arm of Uber Eats registered a remarkable financial performance as its pre-tax profit surged by 74%, reaching £18.4m. This figure represents a considerable increase from the £10.5m reported in the previous year. The company attributes this success to strategic shifts initiated in April 2022, which have streamlined operations and improved efficiency.
During this period, Uber Eats’ turnover grew impressive 55%, reaching £1.1bn. The growth is largely attributed to their partnerships with restaurants and grocery stores, which have bolstered their capacity for rapid delivery services across the UK. Despite this growth, administrative expenses rose significantly by 82%, amounting to £355m, highlighting the increasing costs involved in sustaining such an expansion.
The company’s workforce also expanded, with the average monthly headcount increasing from 186 to 246 employees in 2023. This growth in staff reflects the firm’s increased operational capabilities and commitment to enhancing delivery services amidst rising demand across the region.
Despite the financial success, Uber Eats has faced challenges concerning brand reputation, notably highlighted by a lawsuit in 2022. A courier alleged unfair dismissal due to facial recognition software not recognising him, raising accusations of racial bias. Uber has actively worked to mitigate these reputational risks, focusing on improving safety and workplace culture.
As of December 2023, Uber Eats UK’s assets were valued at £37.3m, a significant rise from £20.8m in the previous year. The firm’s strategic report underscores the importance of addressing reputational challenges to secure ongoing success and sustain business growth.
The UK branch of Uber Eats demonstrated robust financial growth in 2023, despite facing challenges related to reputational concerns.
