The Berlin-based food delivery service, Delivery Hero, has reported a successful quarter and is anticipating further growth. Notably, the company’s subsidiary, Talabat, is also achieving significant milestones.

Driven by increasing demand, Delivery Hero has maintained its growth trajectory. Additionally, the company has announced plans to take its Middle Eastern subsidiary, Talabat, public.

“We successfully closed the quarter and expect further growth and a significant increase in profitability in the second half of 2024,” said CEO Niklas Östberg. According to the company, the gross merchandise volume traded through the platform grew by 10% in the last quarter, adjusted for currency effects, reaching €11.9 billion.

The group’s revenue increased by 20%, amounting to €3.01 billion. Thanks to ongoing cost-saving measures, the operating profit multiplied to €240.5 million in the first half of the year.

Delivery Hero also has strategic plans for its rapidly growing subsidiary, Talabat. The food delivery service, which operates in the Middle East and North Africa, is expected to go public on the Dubai stock exchange in the fourth quarter. All the shares to be offered will come from Delivery Hero’s existing holdings.