Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Online grocer’s placing and profit warning leave a bad taste
Thursday 08 Feb 2018 Author: James Crux

Shares in online supermarket Ocado (OCDO) soured as full year results (6 Feb) revealed a return to a pre-tax loss and a warning that 2018 profits will be pegged back by ongoing investment spend to ‘accelerate’ growth opportunities.

Ocado also announced a 5% placing which in the scathing words of Shore Capital analyst Clive Black, ‘reflects the magnitude of cash burn for its NASA-like projects; high in technological detail but one just never sees their benefit from Planet Earth’. (JC)

‹ Previous2018-02-08Next ›