Ocado’s H1 FY22/23 performance was slightly stronger than our as well as the market’s expectations – sales were in line but the underlying profit was ahead. Group EBITDA came in at +£16.6m (vs consensus of ~£3.0m), mainly attributable to retail (-£2.5m vs consensus of -£10.0m) and the Technology business (+£5.9m vs flattish market expectations). The management has reiterated the annual outlook. The management is proceeding with promising initiatives like Ocado Intelligent Automation (for non-gro ....
18 Jul 2023
Stronger than expected performance in H1 FY22/23
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Stronger than expected performance in H1 FY22/23
Ocado Group PLC (OCDO:LON) | 353 -32.5 (-2.5%) | Mkt Cap: 2,931m
- Published:
18 Jul 2023 -
Author:
Nishant Choudhary -
Pages:
4
Ocado’s H1 FY22/23 performance was slightly stronger than our as well as the market’s expectations – sales were in line but the underlying profit was ahead. Group EBITDA came in at +£16.6m (vs consensus of ~£3.0m), mainly attributable to retail (-£2.5m vs consensus of -£10.0m) and the Technology business (+£5.9m vs flattish market expectations). The management has reiterated the annual outlook. The management is proceeding with promising initiatives like Ocado Intelligent Automation (for non-gro ....