Ocado posts full-year earnings fall as sales surge

Ocado

Online retailer and tech platform Ocado has reported a slide in full-year earnings, affected by factors such as the fire last year at its Andover depot.

Ocado posted a 27.2% EBITDA decline to £43.3m in the year to December 1, 2019, when group sales climbed 9.9% to £1.76bn. The retailer said that the earnings performance was “broadly in line with consensus” and was affected by accounting changes and share scheme costs as well as the warehouse blaze.

It has been a significant year for Ocado as its Solutions business struck more deals with overseas retailers keen to deploy its technology and as it prepares for its joint venture with Marks & Spencer to go live later in September.

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