British online grocer grows profits

Online grocer Ocado today said it continued to turn in a profit after trading well over Christmas and the start of 2011.

British online grocer grows profits

Online grocer Ocado today said it continued to turn in a profit after trading well over Christmas and the start of 2011.

The Hatfield-based firm, which delivers Waitrose products across much of the UK, reported that sales increased by 24.7% to £146.2m (€170.3m) in the 12 weeks to February 20.

Ocado, which floated on the stock market in July, claimed the business continued to be profitable in the first quarter of its financial year, after it made its first pre-tax profit in the three months to November 28.

Customer numbers increased although the average delivery size shrank by 1% to £118.06 (€137.54) as people ordered more frequently.

The figures include a strong festive period when sales were up 43.5% to £12.3m (€14.3m) in the week before Christmas after the group fitted snow tyres to its 700 vans to ensure deliveries would be met.

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