RE: Outstanding, no1 mover in London today14 Jan 2025 09:05
There are strong signs that Ocado Group
OCDO
10.74%
is emerging as the fastest-growing UK grocer, following a focus on its selling prices which is having the desired effect of changing perceptions. The joint venture with Marks & Spencer Group
MKS
0.03%
provides the main slug of revenues, and so this update provides a strong base as Ocado attempts to reverse some of the significant damage which the Technology Solutions business has wrought on the group as a whole.
The figures are undeniably strong to that end, with 17.5% growth in retail revenues during the 13 weeks to 1 December to £715.8 million, total items increasing by 17% to 271.6 million, average orders per week climbing by 16.9% to 476,000 and active customers now totalling 1.12 million following a further 12.1% hike.
This bolsters the numbers for the year as a whole, with similarly strong growth across the piece in the 52 week period, including 13.9% and 12.9% growth in total items and revenues respectively. Record levels of sales over the Christmas period underline the positive trajectory which the retail business is enjoying, which bodes well for overall group numbers.