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Home Business News Ocado rises from the ashes after the Andover fire

Ocado rises from the ashes after the Andover fire

by LLB Reporter
9th Jul 19 10:02 am

Ocado has revealed the impact of the losses they occurred after the Andover warehouse fire. In the 26 weeks to 2 June the online grocer reported loss before tax of £142.8m compared with £13.6m loss for 2018.

Adjusted retail revenues were up by 9.7% to £803.2m, and adjusted underlying earning nearly halved to £18.7m.

After the fire at the Andover warehouse it is now expected to have a £15m impact on earnings for the full year.

However, for the second half of the year, Ocado expects retail revenue growth to be between 10% and 15%.

Chief executive Tim Steiner said, “We have never had as many opportunities to grow as we do today.

“As we look to successfully scale our business and deliver outstanding execution to our partners, our challenge will be to select and prioritise the most attractive of these opportunities.”

 

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