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.
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