Vi använder en mängd olika cookies för att du ska få den bästa användarupplevelsen. Genom kontinuerlig användning av denna webbplats godkänner du vår användning av cookies. Du kan läsa mer om vår policy för cookies och redigera dina inställningar här eller genom att följa länken längst ner på alla sidor på vår webbplats.
Ocado (first half earnings 10 July)
Ocado is expected to report a 12.5% rise in revenues for the first half, to £803 million, while earnings are expected to be up 3.2% to £45.6 million. The recent surge in the stock has been driven by the firm’s success in reinventing itself as a technology firm that can provide its expertise to others, a move exemplified by the recent deal with US giant, Kroger. Bernstein estimates that the grocery ecommerce market will be worth $162 billion by 2025, while Goldman Sachs thinks the global revenue pool that Ocado can address is worth around $250 billion. Discussion of sales performance in the UK is now mostly academic for Ocado, as it will be hints of further technology deals that will dominate the story now.
Ocado shares have surged since April, as shorts are cleared out thanks to news of technology deals. Since the all-time high of £11.42 in June, the shares have dropped back, moving in a tight range. A swift drop in early June found buyers around £9.17. Any renewed move higher targets the all-time high.