Jul 9, 2019

Ocado says Andover fire cost more than £100m

HFRS Online delivery firm Ocado has revealed that the fire which ripped through its Andover warehouse in February cost £110m. The company has already claimed millions of pounds back from its insurers and eventually expects to be able to reclaim all the cost. The cost of the fire drove it to a half-year loss of £142.8m and knocked 2% off its sales. The company said it was optimistic about its outlook. "We have never had as many opportunities to grow as we do today," said Tim Steiner, Ocado's chief executive. The company preferred to focus on an adjusted measure of its first half performance, which showed a £43m loss - wider than the £13m loss a year earlier.

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