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(Alliance News) - Ocado Group PLC said on Tuesday that its Ocado Retail joint-venture with Marks & Spencer Group PLC is set for its "best-ever Christmas".
Ocado also reported it had won a patent dispute case against its storage and picking system by Norwegian firm Autostore AS.
Shares in Ocado were up 8.7% at 1,729.36 pence each on Tuesday morning in London, the best large-cap performer.
In the fourth quarter ended November 28, retail revenue fell 3.9% annually to GBP547.8 million from GBP570.1 million, though this was up 32% from GBP416.2 million two years earlier, before the onset of the pandemic.
The Hatfield-based online grocery business added that it expects its 2022 revenue growth to be at the top of its pre-Covid range of 10% to 15%.
Ocado said that average orders per week had increased 9% annually to 375,100 from 345,700 in the same quarter the previous year.
Order value, however, fell 12% yearly to GBP118, though up 13% from pre-virus times. Ocado cited customers returning to the office and spending less time at home for the annual fall.
Ocado's joint venture with retailer M&S expects 2021 results in line with guidance, adding that strong demand was offset by labour pressures and capacity constraints. Additionally, Ocado said that M&S products now account for nearly 30% of the average basket.
Meanwhile, a US International Trade Commission patent case verdict, delivered on Monday, has "found in favour of Ocado", the company said.
In October of last year, Autostore had said it sued and filed complaints in the US and the UK, accusing Ocado's Smart Platform of infringing Autostore's patented technology.
Ocado Smart Platform is a storage and picking system used in fulfilment centres. Autostore's system is also used in warehouses.
Autostore's complaint to the ITC originally alleged infringement by Ocado on 33 claims spread across five different patents.
The judge found that three of four Autostore patents are invalid, while a fourth has not been infringed. The fifth dispute was abandoned by Autostore.
Ocado said it continues to pursue its own claims against Autostore for infringement of Ocado's patents in both the US and Europe.
By Heather Rydings; heatherrydings@alliancenews.com
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