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Ocado posts strong revenue growth

Online supermarket Ocado has achieved a period of strong growth in its fourth quarter with retail revenue climbing by 12%.

FOOD & DRINK

Ocado posts strong revenue growth

Online supermarket Ocado has achieved a period of strong growth in its fourth quarter with retail revenue climbing by 12%.

The 13 weeks to 2 December saw retail revenue reach £390.7 million after average orders per week increased by 13.1% to 320,000, although its average order size declined by 1% to £104.91.

Tim Steiner, Ocado's chief executive, said: "Our unrelenting focus on delivering consistent high levels of service and value to ourcustomers in the UK has produced another quarter of satisfying growth.”

The retailer said its new state-of-the-art customer fulfilment centres in Andover and Erith are continuing to perform well, with Erith now processing over 30,000 orders per week.

Steiner added: “Although in many respects 2018 has been a transformative year for Ocado, the story has only just begun. We look forward to the coming year and continuing to turn our substantial opportunities into sustainable value for all our stakeholders."

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