Ocado reveals £394m loss as sales improve
The IndependentFor free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Ocado has posted a £394 million loss for the past year, as bosses hailed “good progress” at the online retail group. Ocado Retail, our joint venture with M&S in the UK, has had significant success growing customer numbers, taking online grocery market share and rebuilding profitability Tim Steiner, chief executive This was largely driven by the firm’s technology solutions business, which saw 44% growth to £420.5 million for the year. “Ocado Retail, our joint venture with M&S in the UK, has had significant success growing customer numbers, taking online grocery market share and rebuilding profitability, proving, once again, the attractions of our online model.”
History of this topic
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