Online grocery retailer Ocado could bag an estimated £600m next year if a float that is being considered were to go ahead, according to The Times.

Ocado continues to make losses, but Waitrose, its main supplier, is understood to have been encouraged by the recent IPO of American online restaurant booking service OpenTable, which floated while just breaking even.

The Times noted that a stockmarket listing would make international expansion more straightforward for Ocado.

Co-founder and finance director Jason Gissing, said that that the operation would become profitable “early next year.”