Good morning: Shares in Ocado Group have risen 93 per cent over the past 12 months, putting a £6.8 billion valuation on the FTSE 100 company. Not bad, given that even the most bullish analysts don’t expect Ocado to make a pre-tax profit until 2020. Deals to license its warehouse and logistics technology to international retailers, such as the US retail giant Kroger and France’s Groupe Casino, have driven the shares higher amid a growing belief that Ocado should be valued as a start-up technology company rather than a “boring retailer”. Never mind that the business has actually been around since 2000. Full-year results this morning reveal a 15.8 per cent rise in revenue from licensing its technology (although its online retail business still accounts…

Source: The Times February 05, 2019 09:00 UTC