Home Business NewsBusiness Ocado revenue rises 11.5 per cent

Ocado revenue rises 11.5 per cent

by Purvai Dua
18th Sep 18 8:55 am

Ocado has announced today that its revenues have increased by 11.5 per cent in its third quarter, while retail sales growth has slowed a touch in its latest quarter.

Revenue increased to £348.6m in the 13 weeks to September 2, from £312.7m in the same period last year.

The online supermarket is also investing heavily in automated warehouses, operated by robots, and is trying to scale up at speed. Ocado chief executive Tim Steiner added that new warehouses at Andover and Erith in the UK — the company’s third and fourth robotic sites — were perfroming well. The Erith site, which opened this summer, had shown “very strong initial growth”

Ocado said Erith processed over 20,000 customer orders last week, 14 weeks after opening, a number that its third warehouse, in Andover, southern England, took 15 months to achieve.

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