Market intelligence, trend analysis and forecasts for the Food and Drink industries across the regions

Companies / United Kingdom

Ocado Moves Towards Profitability, Considering IPO

October 2009 | Company News Alert

UK online grocery retailer Ocado has posted its first ever profit on an earnings before interest, tax, depreciation and amortisation (EBITDA) basis for its latest financial year, while at the same time achieving 17% sales growth. For the 12 months to November 30 the firm delivered EBITDA of GBP483,000. However, pre-tax losses still came in at GBP32.6mn which compares to GBP39.7mn in the previous years. The move towards profitability is a long overdue step if the company is ever going to prove to be self-sustaining and the stage is now set for an initial public offering (IPO) to fund further

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