Belfast Telegraph

Sunday 20 April 2014

New warehouses hit Ocado profits

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.