Profit increase for British online supermarket Ocado

Profit increase for British online supermarket Ocado

British Ocado, one of the pioneers when it comes to online supermarkets, managed to increase its turnover, profit and number of customers in 2016.

Nearly 600,000 customers

Ocado's total turnover in 2016 reached 1.27 billion pounds (1.5 billion euro), which is a 14.8 % increase compared to the year before. EBITDA grew 21.8 % to 14.5 million pounds (17 million euro), but the consumers' average spend did drop 2.7 % to 108.1 pounds (125 euro), but that is to expected after a price war and the increasingly popular discounters Aldi and Lidl. Luckily for Ocado, its customer base also grew, nearly 14 %, to 580,000. 

 

The company is considered to be one of the world's pioneers when it comes to online groceries, with its own order system which it licenses to other companies albeit still rather limited nowadays. Allegedly, the company is talking to several interested parties in Western Europe and the United States, while it already has a collaboration in the UK with supermarket chain Morrison's.