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Pin to quick picksOcado Share News (OCDO)

Share Price Information for Ocado (OCDO)

London Stock Exchange
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Share Price: 288.90
Bid: 289.70
Ask: 290.90
Change: 2.00 (0.70%)
Spread: 1.20 (0.414%)
Open: 287.00
High: 293.50
Low: 284.40
Prev. Close: 286.90
OCDO Live PriceLast checked at -

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Numis reiterates 'buy' rating on Ocado

Tue, 28th Jun 2016 10:21

(ShareCast News) - Numis reiterated a 'buy' rating and target price of 400p on Ocado Group on Tuesday after the online grocer reported growth in first half revenue and earnings.The company posted a 5.7% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to £40.4m and revenue rose 14.1% to £584.2m.The FTSE 250 firm saw profit before tax hit £8.5m, up from £7.2m, although cash and cash equivalents dropped to £52.7m from £70.4m by the end of the 24 week period.Ocado chief executive Tim Steiner said "the market remains competitive with ongoing price deflation but our increasing scale and operational efficiencies meant that we still grew profits, albeit at a slower rate".He said the company has been gaining share in the online grocery market, and expects this to continue.Steiner added that testing of the company's new proprietary fulfilment and software solutions in its third facility in Andover was progressing well and they expected to move on from the test phase in the autumn post the quieter summer period."Regarding an international deal, there is no new news - Ocado states that it remains 'confident in its ability to sign multiple deals in the medium term', while it is in 'continued discussions with many potential international retailers to adopt the OSP'," Numis said."The lack of deal announcement, competition-led downgrades, and investor concerns around competition (albeit Amazon Fresh is having no impact on trading) look set to continue to weigh on the shares, but we retain our positive stance, continuing to believe that central fulfilment is the best model and that Ocado has the leading global solution."Shares jumped 7.78% to 224.30p at 1309 BST.
More News
16 Jan 2024 11:58

LONDON MARKET MIDDAY: FTSE 100 falls despite cooler UK wage growth

(Alliance News) - The FTSE 100 in London was down at midday Tuesday, as investors nervously eye Wednesday's UK inflation data and what it will mean for interest rates.

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16 Jan 2024 09:08

Britain's Ocado Retail won't open new sites in next 2 to 3 years -CEO

LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail is currently operating at about 75% of its capacity and does not expect to open any new robotic warehouses in the UK for two to three years, its boss said on Tuesday.

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16 Jan 2024 08:50

Ocado Retail CEO: Red Sea disruption impact will be minimal

LONDON, Jan 16 (Reuters) - The chief executive of Ocado Retail said she is not expecting to see much impact on the British online supermarket from disruption to shipping in the Red Sea.

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16 Jan 2024 08:48

LONDON MARKET OPEN: FTSE 100 in red; UK wage growth cools

(Alliance News) - The FTSE 100 in London opened lower on Tuesday, after data showed that wage growth in the UK slowed in the three months to November.

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16 Jan 2024 08:30

TOP NEWS: Ocado celebrates record Christmas trading; outlook rosy

(Alliance News) - Ocado Group PLC on Tuesday said it is confident its "encouraging momentum" will continue over 2024, forecasting further sales growth as it hailed a record Christmas trading period.

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16 Jan 2024 08:26

Britain's Ocado Retail returns to positive earnings in 2022/23 year

Q4 2022/23 revenue up 10.9%

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16 Jan 2024 07:37

LONDON BRIEFING: UK jobless rate sticks at 4.2% but pay growth slows

(Alliance News) - Stocks in London are called to open lower on Tuesday, following data showing that the UK jobless rate was unchanged at 4.2% as pay growth slowed.

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16 Jan 2024 07:16

Ocado forecasts return to FY positive core earnings as sales rise

(Sharecast News) - Online grocer Ocado Retail has forecast a return to positive earnings for 2022/23 year as the fourth-quarter revenues rose by almost 11%.

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16 Jan 2024 07:09

Britain's Ocado Retail returns to positive earnings in 2022/23 year

LONDON, Jan 16 (Reuters) - British online supermarket Ocado Retail said on Tuesday it would meet its forecast of a return to positive earnings for its full 2022/23 year after reporting fourth quarter to Nov. 26 revenue growth of 10.9%.

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15 Jan 2024 15:37

London close: Stocks mixed on relatively quiet Monday

(Sharecast News) - London's stock market finished with a mixed performance on Monday, after underwhelming reports from PageGroup and Crest Nicholson.

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10 Jan 2024 16:51

LONDON MARKET CLOSE: Tepid trade as investors await US inflation data

(Alliance News) - London's FTSE 100 ended lower on Wednesday, as its difficult start to the year continues, as investors have one eye on Thursday's US inflation data.

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5 Jan 2024 16:26

UK's Asda to match some discounter prices in push for market share

Asda to match Aldi and Lidl prices on 287 products

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3 Jan 2024 08:46

TOP NEWS: UK grocers enjoy bumper Christmas and inflation cools

(Alliance News) - The UK grocery sector had its busiest festive period since the onset of the Covid-19 pandemic four years ago, numbers from Kantar showed on Wednesday, while price inflation worries for consumers abated.

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20 Dec 2023 15:05

London close: Stocks rise as UK inflation slows further

(Sharecast News) - London's stock markets saw a notable upswing on Wednesday, driven by encouraging data revealing a greater-than-anticipated slowdown in UK inflation for November.

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19 Dec 2023 15:02

London close: Stocks manage gains amid holiday slowdown

(Sharecast News) - London's financial markets showed resilience on Tuesday, maintaining positive momentum despite the usual holiday slowdown.

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