FRANKFURT (dpa-AFX) - The shares of Delivery Hero made another attempt to break out above the 28 euro mark on Tuesday. The shares gained 6.4 percent to 28.22 euros in the morning.

In a study published on Tuesday, analyst Marcus Diebel from the bank JPMorgan commented positively on the business figures of the South Korean Delivery Hero business Woowa, which had increased its operating profit by almost two thirds in 2023.

Asia is an important market for Delivery Hero, with South Korea likely to account for a large share. However, growth in the region is clearly lagging behind the others: while all other divisions recorded double-digit percentage growth in the fourth quarter, sales in Asia stagnated.

Apart from South Korea, the MDax group is active in South East Asia with Foodpanda, for example in Singapore, Malaysia, Thailand, Cambodia, Myanmar, Laos and the Philippines. This business was originally intended to be sold. In February, however, it was announced that talks with a potential buyer had been broken off. Delivery Hero and its Baemin brand left Vietnam at the beginning of December.

With the recent share price gains, Delivery Hero has increased its share price to almost 90 percent since the record low of just under EUR 15 at the beginning of February. For comparison: During the coronavirus pandemic, the shares still cost more than EUR 145 at the beginning of 2021. At that time, many people ordered delivery meals as restaurants were closed. However, the boom was over just as quickly as it had begun. Until the end of 2021, the shares remained at a fairly high level before a downward slide began.

After the strong ups and downs of recent years, Delivery Hero shares now cost slightly more again than at the start of 2017, when the issue price was EUR 25.50./mis/ngu/jha/