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Ocado posts 27% sales boost Tuesday, 31st January 2012
Ocado has posted a 27 per cent boost in underlying sales and forecast first-quarter sales growth of about 10 per cent.
The online grocer also said the rate of growth should improve as the year progresses and capacity improves.
The retailer today announced it made earnings before interest, tax, depreciation and amortisation (EBITDA) of £27.9 million in the year to 27 November.
This figure is in line with analysts’ forecast of £28 million and up from £22 million in the previous year.
Sales at the group increased 16.6 per cent to £642.8 million.
Earnings have been marred by higher staffing costs as the retailer fought to overcome capacity constraints at its main distribution depot in Hatfield, north London.
The group posted a 16.6 rise in Christmas sales earlier this month.