Ocado sees profits hit £10.1m for first time – boosted by mobile
Online grocery firm Ocado has reported a hike in pre-tax profits – to £10.1m in 2014 – its first-ever profits since it was established in 2000.
The results, in stark contrast to the £3.8m loss the company saw the previous year, saw revenues reach £949m in 2014, up 19.8 per cent from 2013, while group sales surged to £1.03bn
Ocado chief executive Tim Steiner referenced the “intense” competitive backdrop in the supermarket sector, accelerated by the likes of discounters Aldi and Lidl, adding that the online grocery service’s growth had surged “significantly” ahead of the overall market.
He attributed part of the Read full story ›
Source: The Drum
