CITY & CORPORATE
Ocado's flotation 'won't be in profit until 2014', adviser says
2 July 2010 | by The Retail Bulletin
Ocado will not make a single penny of profit until 2014 according to one of the banks advising the retailer on its audacious £1bn flotation, The Daily Telegraph reports.The downbeat forecast from one of Ocado's own advisers is likely to raise further questions about the mooted £1bn valuation placed on the loss-making online retailer.In research sent to potential investors ahead of the flotation, Jerome Samuel, an analyst at HSBC, predicts that Ocado will continue running up losses until 2013, before making £25m of pre-tax profit in 2014 and £56m in 2015. The online retailer has already run up total losses of £343m building a bespoke distribution centre and delivery network. Full article here.
Email this article to a friend
You need to be logged in to use this feature.
Please log in here