Ocado profits held back by investment costs

In the 26 weeks to 28 May, retail revenue increased by 12.5% to £659.6 million while EBITDA rose by 2.7% to £45.2 million.

The company said growth in retail revenue was driven by improvements in the number of active customers in the period and higher order frequency.

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However, profitability was impacted by continuing inflationary pressures, higher costs associated with the opening of its Andover customer fulfilment centre, and the company’s continued investment in future growth initiatives.

Ocado said it expects its…