Ocado reports 30% sales growth
Online grocer Ocado today saw its share price slip by more than 4% despite reporting a 30% growth in sales in its first update since flotation. Elsewhere, Morrisons is expected to announce the upcoming launch of its online service when it reports first-half results on Thursday. Related news Ocado shares lose more than 10% of value since stockmarket launch Ocado posts 25% increase in sales Online grocer Ocado seeks to raise £200m in flotation Internet Retailing Read More
Ocado set to widen customer base through new distribution centre
Online grocer Ocado is set to increase the number of customers it delivers to and the area of the country it serves with a new distribution centre in the West Midlands. Related news Ocado IPO plans come into focus Home Retail Group to cut 210 jobs at Manchester distribution centre Flotation could value Ocado at £1.1bn Internet Retailing Read More
Ocado shares lose more than 10% of value since stockmarket launch
Online grocery retailer Ocado has finally made its stockmarket debut, though so far its shares have lost in value. The company, which primarily sells Waitrose goods, listed on the London Stock Exchange on Wednesday at 180p per share. Today shares were trading at 155p, a fall of 13.89% since launch. According to Bloomberg data cited in The Telegraph, Ocado’s first day of trading, in which its shares lost 7% of their value, was the worst first day for a London IPO since... Read More
Flotation could value Ocado at £1.1bn
Ocado could be valued at £1.1bn when it floats on the London Stock Exchange later this year. Figures released this morning by the company show the online grocer is looking to join the market at a share price of between 270p and 275p. If realised, this would put a value on the company of between £800m and £1.1bn before flotation and realise a value at flotation of £1.18bn. The valuation would make the company immediately eligible for the FTSE250. The share offer, announced... Read More
