The online grocery provider and technology group said that group revenue had risen by 12.3 per cent to nearly £1.6 billion in the year to December 2. Earnings, in a year where it signed new licensing agreements with large international retailers and ploughed further investment into building new distribution facilities, fell by nearly 21 per cent to £59.5 million. This was in line with the market’s expectations. Ocado’s statutory loss before tax also jumped from £8.3 million to £44 million last year. Despite speculation of a partnership with Marks & Spencer, which sent its share…

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