Ocado reports strong sales growth
Online grocery retailer Ocado saw its group sales climb by 18.6% to £331.9 million in its fourth quarter.
In the 16 weeks to 30 November, retail sales grew by 14.9% to £311.4 million. The retailer also increased its average orders by 16.4% to 177,000 but the average order size declined by 1.7% to £109.74.
The results mean that in the full year group sales rose by 20.4% to £1,026.5 million and retail sales climbed by 15.3% to £972.4 million.
Tim Steiner, Ocado's chief executive, said: "We are pleased with the continued steady growth in our business against the backdrop of a more competitive grocery market. This performance reflects an increasing number of customers who value the wide range of products, keen prices and great service made possible by Ocado's unique operating model, and further demonstrates the ongoing shift to online grocery shopping.
"We remain committed to constantly improving the quality of the proposition to customers, which we believe will support continued growth, and although we anticipate the retail environment to remain challenging, we expect to continue growing sales slightly ahead of the online grocery market."
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