February 11, 2020 / 7:17 AM / 16 days ago

Ocado's earnings fall on fire impact

LONDON, Feb 11 (Reuters) - British online supermarket and technology group Ocado reported a 27% fall in annual core earnings, reflecting the impact of a fire which destroyed a hi-tech flagship warehouse in southern England, accounting changes and the costs of share schemes.

Ocado, whose shares have risen 35% over the last year thanks to it securing overseas technology deals, said on Tuesday it made earnings before interest, tax, depreciation and amortisation (EBITDA) of 43.3 million pounds ($55.9 million) in the year to Dec. 1. 2019.

That compares to analysts’ average forecast of 42 million pounds, according to a company compiled consensus, and a re-stated 59.5 million pounds for 2017-18.

For the 2019-2020 year Ocado forecast retail revenue growth of 10-15% and international solutions fees invoiced growth of 40% or more. ($1 = 0.7743 pounds) (Reporting by James Davey; editing by Kate Holton)

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