Ocado revenues rise 15 per cent to £382.7million
Online retailer, Ocado has said that its revenues have risen by an impressive 15 per cent to to £382.7million during the first half of the year.
The company aid that the number of consumers increased to 360,000 from 337,000 during the first half of the year till June, 2013. The company said that higher number of customers is using their smartphones to order weekly shopping instead of going to the super markets. Its 29 per cent to £19.2million but the group made a loss of £3.8million.
The company opened new distribution centres in Dordon, Warwickshire, and Welwyn Garden City, Hertfordshire. Ocado has said that it has entered into agreement with Morrisons allowing the supermarket to sell its food online. Ocado employs about 6000 people and the company had said in May that it has started the year with strong performance.
Its largest supplier and rival Waitrose has appointed lawyers to study the agreement between the two firms. On the other hand, the agreement was well received by the investors and the shares of the company touched 351p, which is its highest ever achieved in May. It is expected that the agreement will expand the company's presence and may help in improving earnings.