THE RETAIL BULLETIN - The home of retail news
HOME
VIRTUAL EVENTS
Christmas Ads
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Health & Beauty
Home & DIY
Interviews
Newsletter
Property
Retail News
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
RETAIL INSIGHTS
RETAIL SOLUTIONS
ABOUT
CONTACT
SUBSCRIBE FOR FREE
Ocado upbeat despite losses

Ocado increased its revenue by 9.9% to £1.76 billion in the year to 31 December despite disruption caused by a fire at the retailer’s Andover customer… View Article

FOOD & DRINK

Ocado upbeat despite losses

Ocado increased its revenue by 9.9% to £1.76 billion in the year to 31 December despite disruption caused by a fire at the retailer’s Andover customer fulfilment centre.

Fees invoiced to the online grocer’s international solutions partners rose by over 38% to £81.4 million while retail revenue climbed by 10.3%.

However, the company made a pre-tax loss of £214.5 million after profitability was impacted by international investments in its platform, costs relating to its new customer fulfilment centre in Erith, share-based management incentive charges, and additional depreciation. The retailer also incurred £94.1 million in exceptional costs which were mainly a result of the Andover fire.

Tim Steiner, chief executive of Ocado, said: “We are pleased to report results which show strong momentum in the business. Although statutory results reflected a combination of factors, including the impact of the Andover fire, the underlying performance of Ocado Retail and the successful growth of Ocado Solutions were very encouraging.”

 

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News