Online grocer, Ocado is to unveil their full-year results Tuesday, their shares bounced amid reports of a tie up with M&S.
Ocado’s shares have risen more than 30% to around 990p, the group is expected to see earnings drop £75.7m, 10%. When taking into account new reporting requirements the group is to see a drop of between £58m to £61m.
In the 13 weeks to 2 December, revenue jumped to £390.7m, in line with the firm’s guidance.
Should the M&S and Ocado deal go ahead, it has been suggested that the M&S deal would start next year.
The Share Centre said, “Interesting rumours recently of secret talks between Ocado and M&S on a number of possibilities, including grocery deliveries and even a suggestion that M&S might buy Ocado’s entire supermarket delivery operation to leave Ocado free to focus on its technology side.”