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The Markets
by Proactive
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The Markets
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Proactive UK has moved.
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Retail

Ocado rings up higher third quarter sales

Ocado increased group gross sales by 17.3% to £272mln

Online grocery distributor Ocado (LON:OCDO) posted higher third quarter sales and said it expected to keep outperforming the market.

Ocado increased gross sales by 17.3% to £272mln while average orders per week gained 16.6% to 190,000 in the 12 weeks to August 9.

But the average order size fell by 1.1% to £110.46.

Ocado is competing in a tough online market against the UK's big four established supermarkets as well as Waitrose and discounters Aldi and Lidl.

Chief executive Tim Steiner said: "We are pleased with the continued steady growth of our business in a retail environment that remains tough.

"We believe our commitment to improving what we offer to customers through innovation and our proprietary intellectual property will support further growth.

"Notwithstanding the competitive nature of the marketplace, we expect to continue growing slightly ahead of the online grocery market."

Ocado shares rose 8.1p to 324p in early London trading.

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