Sep 14, 2021

Ocado UK warehouse fire to shave £10m from profits

A fire at Ocado's largest warehouse over the summer will dent full-year profits by about £10m, the online supermarket said on Tuesday as it also cautioned that a labour shortage was forcing it to pay more for drivers. All told, Ocado said the fire was likely to shave about £10m from its full-year profits. A robot fire was also blamed for the destruction of Ocado's Andover warehouse in Hampshire in 2019, which has taken more than two years to rebuild. "Despite the challenges we faced in the period, I am delighted to report that Ocado Retail is performing well," said Tim Steiner, chair of Ocado Retail. In the remaining seven weeks of the quarter revenue dropped 19 per cent as the fire forced Ocado Retail to cancel outstanding orders and reduced its capacity to offer slots to new customers.

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