Ocado – fire chars good trading news

As the company reported double digit increases in revenues, Ocado’s automated Andover fulfilment centre had a serious fire on Monday night.

The grocery fulfilment centre at the Walworth Industrial Estate saw a fire break out at 02:45 on Tuesday morning. The local fire brigade reported that the fire broke out in automated packaging machinery. No injuries were reported.

Orders from customers who receive their groceries from the Ocado site have been suspended. The fulfilment centre is capable of handling 30,000 orders a week.

In a statement, Ocado said: “All relevant safety measures were carried out as planned and no-one suffered injury.

“Although some orders had already left the warehouse before the incident and will be delivered as normal, Andover suspended operation this morning preventing further fulfilment of orders.

“We will assess the damage this incident has caused… and will update further as appropriate.”

Revenues see double digit growth

The news of the fire came just before Ocado released its preliminary 2018 results that showed a 12% growth in retail revenue, 15.8% growth in solutions revenue and a 12.3% in overall group revenue.

“Our performance last year was the result of many years of focus, dedication and perseverance: what we have called our “18-year overnight success”. Our growth story, however, is only just beginning,” said Ocado chief executive officer Tim Steiner.

“We now have in place a platform for significant and sustainable long-term value creation as the leading pure-play digital grocer in the UK, a world-leading provider of end-to-end e-commerce grocery solutions, and as an innovative and creative technology company applying our proprietary knowledge to a range of challenges.”