Ocado earnings slip in year of tech investment

Ocado chief executive Tim Steiner

Source: Peter Searle

Online grocer and tech platform Ocado has reported a fall in full-year earnings as it invested in technology.

Ocado posted group EBITDA of £61m versus £73.1m in the previous year.

Group sales rose 7.2% to £2.5bn in the period to November 28, 2021, while sales at the retail division – a joint venture with Marks & Spencer – advanced 4.6% to £2.3bn and were ahead 41.5% on a two-year basis.

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