Jan 31, 2017

Ocado makes investors wait for overseas delivery

Nowadays, of course, the likes of Ocado have revolutionised home delivery. Today, their cheery van drivers arrive promptly in one-hour time slots from 5.30am - achieving 94.9 per cent punctuality and 100 per cent diplomacy when met by customers in unfortunate pyjamas. On Tuesday, Ocado reported that average grocery orders per week rose 18 per cent, pushing revenues up 15 per cent to £1.3bn. Then there is the pleasant distraction of hearing an enthusiastic presenter tell fascinating stories about antiques. Ocado boss Tim Steiner regaled investors on Tuesday with tales of old technology being replaced by new systems that can complete a two-four hour basket-filling task in just 5 minutes. With Ocado currently trading on more than 100 times 2017 earnings, it is only the robots - not the investors - currently engrossed in a Bargain Hunt.

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