Ocado sales on track despite weather

first_img John Dunne Monday 10 January 2011 2:53 am Online grocer Ocado reported a 26.7 per cent rise in December sales as the popularity of internet shopping and upmarket foods helped it to thrive despite disruption from severe winter weather. The loss-making group, whose shares have been on a roller-coaster ride since they floated in July, said the rise in December gross sales followed an increase of 27.4 per cent in the last quarter of its financial year ending 28 November.Most analysts had expected fourth-quarter and December sales growth to be slightly below the 29.5 per cent reported in the third quarter as the group annualised the introduction of Sunday deliveries and grappled with some harsh weather.Gross profit margins remained stable and earnings before interest, tax, depreciation and amortisation (EBITDA) were in line with its expectations, the group said.Ocado, which sells the products of upmarket grocer Waitrose, cut the price of its initial public offering by almost a quarter and then saw its shares almost halve as investors worried when it might convert strong sales growth into profit.But the stock has since bounced back above its 180 pence flotation price, helped by periodic speculation it might attract a bid from a food retailer yet to offer a full internet service, such as Marks & Spencer or Wm Morrison. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofThe Truth About Bottled Water – Get the Facts on Drinking Bottled WaterGayotBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapp Ocado sales on track despite weather center_img whatsapp Share Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Herald Tags: NULLlast_img