Wednesday 25 April 2018

Online grocery Ocado reports rise in revenue despite adverse weather conditions

Ocado sales
Ocado sales
Ellie Donnelly

Ellie Donnelly

Online grocery Ocado has reported growth in revenue of 11.7pc year-on-year to £363.4m (€414m) for the three months to 4 March 2018.

The growth came despite the company being impacted by adverse weather conditions in the final week of its reporting, according to group’s trading statement for the first three months of the year.

On average the group, which is due to send representatives to Bord Bia’s Marketplace International event next month where they will meet new and existing suppliers, handled 280,000 orders per week, up 11pc on the same period in 2017.

The average order size fell marginally by 0.4pc, to £110.45, with inflation offset by reduced items per basket.

"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."

Earlier this year the company confirmed that it will partner with Canada's Sobeys to develop an online grocery business.

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