10th Dec 2015 07:49
LONDON (Alliance News) - Online grocery delivery service Ocado Group PLC on Thursday said its sales rose in the fourth quarter and for its recently-ended financial year, though its average order size shrunk in the final weeks.
The FTSE 250-listed company said its total group sales for the 16 weeks to November 29 was GBP381.6 million, up from GBP331.9 million a year earlier, with gross retail sales rising 13% and its average orders per week up to 205,000, a 16% year-on-year rise.
But the average order size for the period shrunk to GBP107.16 from GBP109.74, down 2.3%.
For the 52 weeks to November 29, total group sales were up 18% to GBP1.20 billion from GBP1.03 billion.
"We are pleased to report the thirteenth consecutive quarter of double-digit sales growth in what is a challenging and competitive grocery retail environment," said Tim Steiner, Ocado's chief executive.
"We are committed to further improving our offer to customers and to driving operational and capital efficiency across the business, which we believe will support growth. We anticipate the retail environment to remain challenging, but expect to continue growing sales ahead of the online grocery market," Steiner added.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Ocado