Ocado reports £500k full-year loss and warns profits under pressure in 2018 as it transforms itself into a tech company



Online supermarket Ocado has reported a full-year loss in underlying earnings and warned that profits will dip in 2018, as it transforms itself into a technology provider.
The grocer booked pre-tax losses of £500,000 for the year to December 2017, despite seeing sales rise by 12.4%. In the previous year Ocado's profits were £12 million.
The company's 2018 profits are expected to be hit by a £210 million investment in its UK logistics hubs, which include a distribution centre in Andover, Hampshire, and its technology platform.
The group is also issuing an extra 5% in share capital to... read more

 
6 February 2018 in Business, Views: 35
Source: Daily Mail
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