Ocado shares jump by a fifth

Ocado takes a turn for the better after attractive profit forecasts were announced

Ocado Delivery Van In London
(Image credit: Mike Kemp / Contributor)

Shares in the online retailer Ocado jumped by a fifth recently after its latest interim results showed it has “nudged up” its cash flow and profit forecasts, says Isabella Fish in The Times

Not only have pre-tax losses at the group narrowed to £154 million in the six months to the end of May, but group revenue also rose by 12.6% to £1.5 billion. It also expects annual underlying cash flow to climb by £150 million, up from a previous forecast of £100 million. Ocado’s solutions business, which licences warehouse and logistics technology to retailers, seems to have done particularly well, with sales increasing by 21.8% to £241.4 million. 

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri