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Technology

Ocado's First-Half Earnings Dented By Investment

Ocado, the online supermarket and technology company, reported a 13.9% fall in first-half core earnings on Tuesday, reflecting a step-up in investment in the business.

It said that it expected earning trends to improve in the second half of the year, however, and it also maintained its forecast for retail revenue growth of 10%-15% for full 2018, assuming that economic conditions remain broadly stable.

The group, whose share price has soared 256% over the last year, on the back of four major overseas partnership deals, made earnings before interest, tax, depreciation and amortisation (EBITDA) of £38.9 million in the 26 weeks to 3 June.

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