Saturday, February 27, 2021

Ocado posts strong growth for 2016

Online grocery retailer Ocado has released its fourth quarter results, recording a 13.1 per cent rise in gross sales.

In the 16 weeks to November 27, average orders per week rose by 17.6 per cent to 241,000 year-on-year.

Average basket size decreased marginally by 2.9 per cent, attributed to the rise in popularity of Ocado‘s smart pass that allows customers to shop for less more frequently.

For the whole year (52 weeks to November 27) the retailer had growth of 13.6 per cent year-on-year.

READ MORE: Ocado fears Amazon takeover as shares plummet

“We are very pleased with the financial performance achieved this year,” Ocado‘s chief executive Tim Steiner said.

“The strong growth in sales and order volumes reflects the attractiveness of our retail offer to customers

“During the period, we were also pleased to announce that we have commenced operations at our Andover CFC. 

“This is the first of our CFCs to use our new proprietary infrastructure equipment solution and software, which will support the ongoing growth of our business.”

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