Ocado sees jump in quarterly retail revenue

Purvai Dua

Source: Ocado

But trade in last week of February affected by wintry weather

British online supermarket Ocado has reported growth in revenue by 11.7 per cent to £363.4m for the three months to 4 March 2018, though trade in the final week of the period was affected by wintry weather.

“We are pleased to report another quarter of strong underlying sales growth in our retail business in line with our guidance for the year,” Tim Steiner, Ocado’s chief executive, said.

“Looking forward, we continue to make good progress ramping up our revolutionary new customer fulfilment centre in Andover and we are on track to open our latest facility in the middle of this year.”

However, the group said growth was no better than a year previously, because of the winter storms that hit the UK in the last week of February. The damage was equivalent to “nearly 1% of sales over the quarter”.

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