Belfast Telegraph

Production problems to hit Ocado's profits

There was further misery for Ocado's share price after the UK online grocer admitted it needed additional labour to cope with the Christmas rush.

Shares in Ocado fell 9% to around 65.5p, which is now more than 60% lower than the flotation value in July 2010, after it said production problems at its centre in Hatfield, Hertfordshire, would hit full-year profits.

The group was forced to hire more staff to maintain deliveries while work to boost capacity at the centre was completed.

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