Ocado loses remain despite sales rise
Pureplay grocery retailer Ocado has posted sales growth as its retail business returned to profit for the full year ending December 2023.
Ocado posted a group-adjusted EBITDA of £51.6m, up £125.7m from a loss of £74.1m in 2022.
EBITDA for Ocado Technology Solutions and Ocado Logistics was positive at £15.4m and £30.1m respectively, while Ocado Retail returned to a positive adjusted EBITDA of £10.4m after a loss of £4m in 2022.
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