Ocado delivers on time but shares still struggle
11 April 2012
Ocado shares rallied hard today, though the float price of 180p remains a distant memory.
The internet retailer enjoyed a 16% rise in sales over December. That was a slowdown on the 27% jump reported a year ago, but the company took pride in delivering nearly all orders on time. Chief financial officer Andrew Bracey said: "We remain optimistic about continued sales growth."
Overall, sales rose 17% to £643 million in the year to the end of November from the previous year. The average order size for the final quarter was £109.40 against £112.10 a year earlier. The shares were today up 9p at 64p.
