The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksOcado Share News (OCDO)

Share Price Information for Ocado (OCDO)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 355.60
Bid: 357.00
Ask: 357.50
Change: 5.60 (1.60%)
Spread: 0.50 (0.14%)
Open: 352.00
High: 378.90
Low: 350.70
Prev. Close: 350.00
OCDO Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-Ocado makes first pretax profit, targets overseas deal

Tue, 03rd Feb 2015 10:19

* 2013-14 pretax profit 10.1 mln stg vs loss of 3.8 mln stg

* Outcome is firm's first ever annual pretax profit

* CEO says expects Waitrose deal to run to 2020

* Shares up 3 pct (Adds detail, CEO comments, shares)

By James Davey

LONDON, Feb 3 (Reuters) - British online grocer Ocado reported an annual pretax profit for the first time inits 15 year history on Tuesday and said it aimed this year toseal its first technology deal with an overseas retailer.

Ocado, founded by three former Goldman Sachs bankers in2000, has divided analysts like few other stocks, with someviewing its door-step deliveries from giant distribution centresas the future of grocery shopping and others seeing it as acostly and complicated venture that will never make much money.

The company, whose investors have included Tetra-Pakbillionaire Jorn Rausing and former U.S. vice-president Al Gore,signed its first third-party deal in 2013 to carry out onlineorders for British grocer Morrisons, and believes it canalso help foreign retailers to ramp up their online businesses.

"We are targeting to sign the first such agreement during2015 although there is no guarantee we can meet this timeline,"Chief Executive Tim Steiner told reporters, adding he wastalking to parties in Europe, North and Latin America and Asia.

Ocado shares, which have had a rollercoaster ride since theydebuted at 180 pence apiece in 2010, were up 3.1 percent to428.3 pence at 1000 GMT.

"Investor willingness to be short of the shares may diminishin the months ahead given management's clearer optimismregarding a deal being signed," said Barclays analysts, who havea "neutral" rating on the stock.

Ocado reported a pretax profit before one-off items of 10.1million pounds ($15.2 million) in the year ended Nov. 30. Thatwas in line with analyst expectations and compared with a lossof 3.8 million pounds the year before.

Its gross retail sales rose 15.3 percent to 972.4 millionpounds and were up 14.8 percent in December.

The firm said it expected to continue growing slightly aheadof the online grocery market, though it noted some rivals'online growth had recently slowed.

Online grocery sales rose by about 16 percent in Britainlast year, compared with little or no growth in the broadermarket. While online orders account for less than 5 percent oftotal UK food and grocery sales, industry body IGD forecasts themarket will more than double to 17 billion pounds by 2019.

Ocado's range includes products supplied by upmarket grocerWaitrose. Though the contract runs to 2020, there is apossible break point in spring 2017 requiring 18 months notice.That means in theory either party could serve notice towards theend of 2015.

"I see no reason at the moment not to continue until the endof the contract in 2020 and I've no information that anyone elsefeels otherwise," said Steiner.

($1 = 0.6657 pounds) (Editing by Kate Holton and Mark Potter)

More News
14 Dec 2023 09:04

LONDON MARKET OPEN: Stocks rally on dovish Fed; eyes on Boe, ECB

(Alliance News) - Stock prices in London rallied at the open on Thursday, as investors celebrated anticipated cuts to US interest rates in 2024.

Read more
8 Dec 2023 16:53

LONDON MARKET CLOSE: Stocks edge higher following US nonfarm payrolls

(Alliance News) - Stock prices in London closed higher on Friday, as investors digested the most recent jobs data from the US, ahead of a busy week of interest rate decisions.

Read more
6 Dec 2023 09:19

LONDON BROKER RATINGS: RBC likes 3i; JPMorgan raises Ocado

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
6 Dec 2023 08:43

LONDON MARKET OPEN: Cooler US job openings data lifts FTSE; BAT slides

(Alliance News) - Stock prices in London opened higher on Wednesday, with a cooler reading of the US labour market on Tuesday lifting spirits, while the dollar showed some resilience despite the weaker jobs opening data.

Read more
6 Dec 2023 08:35

JP Morgan upgrades Ocado ahead of internet sector "revival"

(Sharecast News) - JP Morgan has upgraded its ratings for Ocado after reviewing its coverage of European internet stocks, saying that the sector's "revival is taking shape" after two years of struggle.

Read more
5 Dec 2023 09:16

TOP NEWS: UK grocery inflation eases before bumper Christmas - Kantar

(Alliance News) - UK grocery price inflation eased in the final quarter of the year, numbers showed on Tuesday, while take-home grocery sales are expected to beat previous records this December.

Read more
29 Nov 2023 16:40

London close: Stocks mixed as US GDP growth tops forecasts

(Sharecast News) - London markets closed with a mixed performance on Wednesday, influenced by a combination of UK data releases and robust economic growth in the US.

Read more
29 Nov 2023 12:02

LONDON MARKET MIDDAY: FTSE 100 underperforms ahead of US data

(Alliance News) - European equities were largely higher heading into Wednesday afternoon's US gross domestic product reading, though London's FTSE 100 underperformed as China-exposed shares and international earners declined.

Read more
28 Nov 2023 21:08

TRADING UPDATES: Tintra seeks cancelling shares; GCM extends accord

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
20 Nov 2023 10:12

LONDON BROKER RATINGS: Goldman likes StanChart; RBC raises Currys

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning and Friday:

Read more
15 Nov 2023 17:45

Ocado moves out of grocery retail with automated fulfilment tech deal

(Alliance News) - Ocado Group PLC on Wednesday said it has signed a deal for Ocado Intelligent Automation with McKesson Canada.

Read more
15 Nov 2023 15:40

Ocado lands fulfiment technology deal with McKesson Canada, shares surge

(Sharecast News) - Ocado shares shot higher on Wednesday after it announced a deal to provide fulfilment technology to healthcare provider McKesson Canada.

Read more
10 Nov 2023 16:53

LONDON MARKET CLOSE: Europe and New York diverge after hawkish Powell

(Alliance News) - Stocks in Europe suffered on Friday, as US interest rate worries cast a dark cloud over equity markets, though counterparts in New York had a more resilient start to the day.

Read more
7 Nov 2023 09:53

TOP NEWS: UK grocery price inflation falls to single-digits

(Alliance News) - UK grocery price inflation dropped to an eight-month low of 9.7% in the four weeks to October 29, according to survey data from Kantar on Tuesday.

Read more
2 Nov 2023 15:12

London close: Stocks rise as BoE keeps rates steady

(Sharecast News) - London's stock markets ended the day on a positive note on Thursday, following the Bank of England's decision to maintain interest rates as markets widely expected.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.