Ocado Retail Reports Fourth Consecutive Quarter of Growth

Company's efficient operations and increased customer base contribute to a 10.9% rise in Q4 revenue.

Ocado Retail, a joint venture between Ocado Group and Marks & Spencer, reported a 10.9% increase in revenue for the fourth quarter, marking the fourth consecutive quarter of growth.
The company's growth was driven by a 5.9% rise in active customers, now close to one million, and an increase in average basket value.
Despite potential impact of lower growth in average selling price, Ocado Retail expects revenue to grow in the mid-high single digits for the full year.
Efficient operations, including new robotic picking arms and a hi-tech warehouse, have kept costs down, contributing to the company's return to profit.
Ocado Retail is forecasting revenue growth in the mid-high single digits for the new financial year, with further gains held back by moves to keep prices low.