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Ocado sees profits jump up

Ocado has reported a 65.3% increase in pre-tax profit to £11.9m for the 52 weeks to 29 November.

Ocado has reported a 65.3% increase in pre-tax profit to £11.9m for the 52 weeks to 29 November.

Revenue was up by 16.7% compared to 2014 to £1,107.6m.

Chief executive Tim Steiner said: “We are pleased to announce results today which illustrate the progress Ocado has made through its clear focus on innovation and customer service.

“The continued enhancement of Ocado’s industry-leading technology and investment into our retail proposition over the course of the year has meant our customers now have greater choice, competitive prices and consistently high order accuracy and on-time delivery. As a result, customer numbers grew, reflected in strong revenue growth in a very challenging market environment.”

 

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