Home Business NewsBusiness Ocado slips to a pre-tax loss of £9m

Ocado slips to a pre-tax loss of £9m

10th Jul 18 9:59 am

Online grocer Ocado posted group revenue of £799.9m for the 26 weeks to 3 June 2018, up more than 12 per cent from £713.8m in the first half of 2017. However, it recorded a loss before tax of £9m for the period, compared with a profit of £7.7m a year earlier.

Tim Steiner, chief executive, added: “This is a transformational period for Ocado. We have developed unique and proprietary technology to offer retailers an end-to-end operating solution for grocery retail that enables them to meet the changing needs of consumers.

“We are confident that we have the ability to scale‐up the business, deliver on our commitments, drive sustainable growth and deliver value to all our stakeholders.”

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