Ocado moves out of R&D phase, hoping for positive cash flow next year
The multifaceted technology and retail business is in for a year of big changes. It is hoping that its big spend on tech will start to bring dividends
Ocado announced this morning that it had narrowed its losses across FY2024, helped by the growing demand for grocery delivery and its fast-growing technology business. Revenue was up by 18% for its technology solutions, 14% for retail and 8% for logistics. This evened out to 14% revenue growth across the entire business, leading to a loss before tax of £379m, versus £417m last year.
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