Revenues at Ocado grow 10%

Despite the fire at its Andover robotic fulfilment centre last year, Ocado still reported a 10% growth in revenue at its global retail and solutions divisions, with new customers in Japan and Australia.

Turnover at Ocado grew 9.9% to £1.75bn in the year ending 1 December 2019, with retail sales up 10.3% year-on-year and logistics turnover up 7.8%.

Overall losses increased to £214.5 million as against £44.4 million in 2018, but Ocado incurred £94.1 million of exceptional items primary associated with the fire in its Andover unit in February 2019.

Ocado Group chief executive Tim Steiner said: “Although statutory results reflected a combination of factors, including the impact of the Andover fire, the underlying performance of Ocado Retail and the successful growth of Ocado Solutions were very encouraging.”

Steiner also highlighted the signing of its eighth and ninth solutions clients – Australia based Coles and Japan based Aeon.

Coles is to open two new customer fulfilment centres in Sydney and Melbourne in 2023 initially with the potential for more further down the line. Aeon is to open three to start with.

Ocado is to open the first of its solutions division customer fulfilment centres later this year with Sobeys in Toronto, Canada and Groupe Casino in Paris.

Stenier said that these state-of-the-art robotic facilities are “a core part of an end-to-end solution embracing automated fulfilment, an intuitive and easy to use web-shop, and hyper-efficient last-mile delivery”.