LONDON, Sept 12 British online grocer Ocado
posted third quarter sales growth of 16.4 percent,
broadly in line with expectations, and said it was encouraged by
an increase in both orders and basket size.
Gross sales of 189.2 million pounds ($299 million) in the 12
weeks to August 11 were 16.4 percent higher than the same period
last year and compared with a company-compiled consensus
forecast of 16.8 percent.
That compares with a first half rise of 15.2 percent.
Shares in Ocado have risen over fourfold in the last year,
mainly on the back of an over 200 million pounds 25-year joint
venture deal with Britain's fourth largest grocer, Wm Morrison
, to provide its online grocery operation by January
"We remain focused on improving the proposition to customers
to make it easier for consumers to shop at Ocado, from an ever
wider range, and at competitive prices. This should support
further growth as the demand for online grocery shopping
continues," the company said in a statement on Thursday.
Ocado, whose range includes products supplied by upmarket
grocer Waitrose, said that it supplied 15.3 percent
more customers who spent an average of 113.54 pounds, 1 percent
higher than the same period last year.
Shares in Ocado closed at 371.1 pence on Wednesday, valuing
the company at about 2.14 billion pounds ($3.38 billion).