Overview

• Ocado's pre-tax losses for the first half of the year nearly halved to £154 million.
• Revenue increased by 12.6% to £1.5 billion, driven by a 21.8% surge in its technology solutions business.
• The company upgraded its annual earnings guidance for the technology division, expecting mid-teens EBITDA margins.
• Shares rose by up to 20% after the announcement, recovering from a significant drop earlier in the year.
• Ocado remains confident in its plan to achieve positive cash flow by 2025-26 despite project delays.