Sep 19, 2017

Opening Quote: Ocado grows as it waits for more deals

Average orders per week in the 13 weeks to August 27 grew 16 per cent to 254,000, exactly in line with Deutsche Bank's forecast. Customers' total average basket, including wholesale partnership orders, declined by 2 per cent. Overall group retail revenue was more than 14 per cent in the period, better than the 13 per cent growth in the first half. After five years of losses, the only buying interest it has attracted is from Sports Direct boss Mike Ashley - although, in his case, it's not a penchant for its old FCUK slogan as its lowly share price: after he increased his stake from 11 per cent to 27 per cent, they leapt from 38p to 45p. They may go a little higher yet. During his tenure, Reckitt investors have enjoyed a total shareholder return of 823 per cent, compared with 207 per cent for the FTSE 100 as a whole, and employee numbers have doubled to more than 40,000.

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