Belfast Telegraph

UK Website Of The Year

Web grocer Ocado eyes overseas expansion

By Holly Williams

Published 01/07/2015

Waitrose receives goods from Ocado
Waitrose receives goods from Ocado

Online grocer Ocado confirmed hopes to agree an international tie-up before the end of the year as it posted a hike in half-year earnings.

The firm, which delivers goods for both Waitrose and Morrisons, has seen shares rise by 30% over the last three months on increasing speculation over a long-awaited deal to sell its technology to overseas retailers.

The company has a Northern Ireland aisle on its website, featuring foods from suppliers like Punjana and Linwoods.

Chief executive Tim Steiner said Ocado was "excited by the possibility" of an international agreement, with the firm stressing it had progressed talks with a number of possible partners outside of the UK.

Half-year figures showed underlying earnings rose 11.4% to £38.2m in the 24 weeks to May 17 on sales 15.7% higher.

Bottom line profits dipped to £7.2m from £7.5m a year earlier.

Ocado revealed in February it made an annual profit for the first time since it was founded nearly 15 years ago, producing a bottom-line surplus of £7.2m after sales jumped by nearly 20%.

Belfast Telegraph

Your Comments

COMMENT RULES: Comments that are judged to be defamatory, abusive or in bad taste are not acceptable and contributors who consistently fall below certain criteria will be permanently blacklisted. The moderator will not enter into debate with individual contributors and the moderator’s decision is final. It is Belfast Telegraph policy to close comments on court cases, tribunals and active legal investigations. We may also close comments on articles which are being targeted for abuse. Problems with commenting? customercare@belfasttelegraph.co.uk

Read More

From Belfast Telegraph