Ocado's results: Finally in the money

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UK Only Article: 
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Ocado's results

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The online grocer has announced its first-ever profit. But there are plenty of risks ahead

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R.C.

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IT WAS a long time coming, and much overdue. But on February 3rd Ocado, the world’s largest online-only grocer, announced that it has finally made a full-year profit, its first since the British-based firm was founded in 2000. The result was pretty much in line with analysts’ expectations, so the share price did not soar. But the news was welcome nonetheless in the British grocery business, a sector that has mostly been producing profit warnings, job cuts and store closures over the past year or so.
In 2014 Ocado made a pre-tax profit of £7.2m (.9m) on revenues of £948.9m. By contrast the company had lost £12.5m the previous year. To move into the black, says Tim Steiner, the chief executive and co-founder, the company has exploited the only channel that has seen any overall …

Source: Retailing
Ocado's results: Finally in the money