Ocado is to expand beyond food into areas such as clothing and health and beauty as it notches up sales of £1 billion.
The online grocer also told The Guardian that it has a fractious relationship with supermarket group Waitrose, whose food it delivers.
The two businesses have clashed over Ocado’s decision to cut the price of some branded goods to less than they cost at Waitrose and about Waitrose rolling out its own delivery service, Waitrose Deliver.
Ocado is understood to be profitable now at an operational level, but still in the red when interest costs are taken into account.
Ocado head of finance and marketing Jason Gissing said: “We are doing£350 million [annualised] sales now. We are growing at 25 per cent a year. If we go to sales of£700 million out Ebitda will go from£5 million to£60 million.”
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