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New warehouses hit Ocado profits

Published 03/07/2013

Internet retailer Ocado slumped back into the red despite rising half-year sales as it took a major hit from the opening of new warehouses.

Growing customer numbers boosted revenues by 15% to £382.7m during the 24 weeks to May 19. But the cost of opening distribution centres helped drag it to pre-tax losses of £3.8m.

Belfast Telegraph

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