Ocado has today reported a big slump in half-year profit – yet the City remains, for now at least, fairly sanguine.
Putting a brave face on what would have been – for any other retailer – an absolute shocker of a first half of the year, Ocado boss Tim Steiner said that the etailer-turned-technology business has “never had as many opportunities to grow as we do today”.
In the 26 weeks to June 2, 2019, Ocado saw its EBITDA dive 46.3% to just £18.1m in adjusted terms, despite a 10.5% increase in group revenue to £882.3m.
Despite the profits plunge, it seems most shareholders and the City more widely, broadly agree with Steiner’s prediction.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.