August 28, 2014

Ocado reports bigger loss in 2013, shares fall

Shares in Ocado fell by a little over 3pc on Tuesday to close at 507.37 as the firm reported a loss of £12.5m for the 2013. The increased loss was attributed to the result of costs associated with its delivery partnership with Morrisons.

However, sales did rise by 18.6%  to reach £843m for the year.

Despite the inability to make a profit, Ocado is still valued at nearly £3bn following its impressive surge since its tie-up with Morrisons.

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