LONDON Feb 4 British online grocer Ocado
posted a wider loss for its 2012-13 financial year, but
said it was well positioned for 2013-14 - a year when analysts
expect it to make a pretax profit for the first time.
Shares in Ocado have risen nearly five-fold over the last 12
months on the back of the firm's 200 million pounds-plus ($327
million) deal with Morrisons, Britain's No. 4 grocer, to
provide its online grocery operation, and on hopes it could do
similar deals overseas.
Ocado, whose range includes products supplied by upmarket
grocer Waitrose, said on Tuesday it made a pretax loss
of 12.5 million pounds in the year to Dec. 1.
That compared with a loss of 0.6 million pounds in the
Earnings before interest, tax, depreciation and amortisation
(EBITDA) rose 32.8 percent to 45.8 million pounds on gross
retail sales up 15.2 percent to 843 million pounds.
Ocado also said its co-founder Jason Gissing would retire
from the board at the annual shareholders meeting in May and
leave the company then. It said Gissing wanted to spend more
time with his family.