Sales rise at Ocado
Gross sales increased 29.8% to £372.2m for the 36 weeks to 8th August 2010 (2009: £286.8m) Average order size for the 12 weeks to 8 August 2010: £113.59 (£114.73 in equivalent period in 2009) At 8th August the Group had cash and cash equivalents, including monies on deposit, of £205.9m, borrowings of £119.9m and undrawn available facilities of £110.0m
Tim Steiner, CEO, said: "In this period, Ocado entered the next phase of its development, becoming a public company, and we welcome our new shareholders. I would also like to thank our customers, our staff and our partners at Waitrose for their continued support. Given increased customer demand and our need to increase capacity it was an appropriate time for the company to raise capital for growth. We now have the funds required to finish the build out of CFC1 and to build CFC2."
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