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Ocado (LON: OCDO) FY2015 Results: Improvements to the Top and Bottom Lines

Executive Summary

  • Online grocery retailer Ocado today reported revenue growth of 16.7%, and its second year of net profit, for the year ending November 2015.
  • Basic EPS rose by 62%, to 2.01p, in line with consensus estimates.
  • Active customer numbers and order volumes grew by double digits, but average order sizes declined slightly in a deflationary market.
  • The company did not meet its goal of signing an agreement to license its technology to an international retailer by year-end, but said that it continues to aim for multiple license agreements over the medium term.

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