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British Online Food Giant Breaks £1bn in Sales Ocado

British Online Food Giant Breaks £1bn in Sales

2016-02-02 15:35

The British online supermarket Ocado reports a revenue of £1.1bn and profits up by 65% in 2015.

Ocado today released its preliminary results for 2015. During the financial year, that ended the 29th of November, the company reports a revenue of £1.1bn, up by 16.7% compared to 2014.

Ocado did not only pass the £1bn sales milestone for the first time, the online grocer also reported fast growth in profits and customers. Profits before tax of £11.9m were 65.3% up compared to previous year and active customers numbered 509,000, 12.4% more than in 2014.

– Investment into our retail proposition over the course of the year has meant our customers now have greater choice, competitive prices and consistently higher order accuracy and on-time delivery, says Tim Steiner, chief executive.
– As a result, customer numbers grew, reflected in strong revenue growth in a very challenging market environment.

About to Sign International Retailers

The online grocer is soon to open its next customer fulfilment centre in Andover which houses the first installation of Ocados new proprietary equipment solution. Something that will further enhance the company´s capabilities and efficiencies.

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Steiner also points out that Ocado always is looking at new ways to grow, something that includes partnerships with international retailers, and the company now has launched the Ocado Smart Platform, for international retailers to use as they move into e-commerce.

– Our ability to package our unique proprietary technology, including our equipment solution, for retail partners outside the UK through our Ocado Smart Platform is proving to be of great interest to a significant number of retailers. We expect to sign multiple deals in multiple territories in the medium term, says Tim Sterner.

Jimmy Andersson

Senior editor

Freelance journalist who have gone from covering sports to online retailing. Been writing about e-commerce for four years.

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