Full Year Results 

Ocado grows, but so do losses

Ocado grows, but so do losses

Ocado (OCDO) is in the midst of a shift from online grocery retailer to a ‘solutions’ business, helping other grocers set up and run their own online ordering and delivery networks. The transition is ongoing, but the group made commendable progress in the year to December 2019. It signed up three major supermarket partners in the period, across three geographies, with a joint venture with Marks and Spencer (MKS) in the UK, along with agreements to develop two customer fulfilment centres (CFC) with Australian retailer Coles and up to three with Japanese group Aeon. The international arm of the solutions business is still lossmaking, but fees invoiced to partners grew by 38 per cent to £81.4m in the year.

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