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Ocado (LSE: OCDO) 1H19 Results: Losses Deepen Due to Andover Disruption; Solutions Growth Hampered by Morrisons Holiday

Executive Summary

  • Ocado reported 1H19 total sales of £882.3 million up 10.9% year over year with retail and solutions revenues growing 10.2% and 20.6%, year over year, respectively.
  • The company reported a diluted loss per share of 19.77 pence compared to a loss per share of 2.22 pence in the same period of the previous year.
  • Ocado expects to achieve retail revenue growth of 10-15% in 2H19, driven by demand growth and company’s ability to utilize additional capacity in its CFC4 and despite the impact of a fire at its Andover customer fulfilment center (CFC).

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