Ocado’s half year results saw a 12.5% increase in retailer revenue and shares rise 2.8%, despite a £1.7m drop in pre-tax profits.
The 26 weeks ended 28 May 2017 saw an increase in the number of active consumers and weekly order volumes following a continued shift towards online shopping. Yet, the average Ocado.com basket value still declined due to increased shopping frequency and reduced multi-buy promotions
Within this period, Ocado struck its first international deal with a European retailer. Ocado CEO Tim Steiner hopes this agreement will be “the first of many,” predicting Amazon’s takeover of Whole Foods to help pave the way in securing future international partnerships.