Jun 5, 2017

Ocado: late delivery

Online grocer Ocado has finally made good on its promise to ink an overseas agreement for its technology, but is keeping nearly every detail under wraps. Wm Morrison, the supermarket that helped Ocado book a profit for the first time, trades at 20 times earnings. Much is made of the fact Ocado missed a self-imposed deadline to find an overseas deal by the end of 2015. At least Ocado has proven that overseas interest does exist. With the first overseas deal so limited in scale, the market should ask when Ocado's new system clients are going to step fully out of the shadows.

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