Feb 9, 2021
Ocado: packer cracker
Suspending disbelief has paid off for Ocado investors. As its automated warehouses are built, the accounting rules will allow Ocado to start recognising about £256m of fees that are due. The grocery markets in countries where there is potential for automated warehouses are worth £2.8tn, of which Ocado's current partners have 7.5 per cent. The more the grocery market goes online, the better Ocado's prospects. Ocado's own estimate of its future fee opportunity - anything between £3.5bn and £26bn - underlines the uncertainties.
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