Mena food delivery companies post $310m net profit in 2022

Mena food delivery companies recorded $310 million in net profits in 2022, reflecting a year-on-year (YoY) increase of 36%, according to market intelligence provider Teaser Platform’s new report on Mena food delivery companies.

In 2020, an aggregated lump-sum of $140 million in net profit has been reported by 14 food delivery companies, while 27 companies generated aggregated losses of $109 million.
 
In 2021, the reported net profits increased by 62% recording $227 million by 15 food delivery companies, while 34 companies generated aggregated losses of $401 million.
 
In 2022, the reported net profits grew by 36% recording $310 million by 13 food delivery companies, while 37 companies generated aggregated losses of $355 million.

Bahrain, Kuwait, and Saudi Arabia formed 80% of the total net profits generated in the Mena region.

In 2022, The Kingdom of Bahrain had three profitable companies generating $94 million in net profit. Kuwait, Saudi Arabia and Qatar had two profitable companies each, reporting total net profits of $83 million, $72 million, and $40 million, respectively. UAE had three profitable companies recording $19 million in net profit. Lastly, Egypt had one profitable company generating $10 Thousand in net profit. – TradeArabia News Service

Source: https://www.tradearabia.com/news/MISC_410322.html