Rising sales are on-track to deliver a profit for online grocery retailer Ocado (LON:OCDO).
In the twelve weeks to February 23, the group’s sales totalled £227.5mln, some 22% better than the same period of 2013. There were also more orders per week, with the average up 18.4% compared with the comparative from the prior year.
The improved performance was boosted by the ramp-up through the tie-up with Morrisons.com (the website of the British supermarket), which launched in early January.
“We are pleased with the continued growth in our business. We remain committed to improving the quality of the offer to customers, which we believe will support further growth,” chief executive Tim Steiner said.
"Having launched on 10 January, we are pleased with the operational progress of Morrisons.com, with the service expanded to new geographic catchments in February.
"While we are encouraged by our current trading, the retail environment remains both challenging and competitive, and we expect to continue growing in line with, or slightly ahead of, the market."