- Revenue growth across divisions
- New deal in Saudi Arabia
Ocado (OCDO) delivered another loss to shareholders in 2023, but investors would be forgiven for paying more attention to the company's new fight with joint venture partner Marks and Spencer (MKS).
The retailer will withhold a £191mn payment because Ocado missed targets set in 2019, at the foundation of the partnership between the companies. Ocado recognised it "failed to meet performance measures" that would trigger the payment, but argued real-world events meant the targets set under the cash flow model from 2019 were too tough, and also said an adjusted figure of £28mn was unfair. Now litigation may be on the cards.