Ocado foreign deal
ONLINE grocer Ocado is closing in on its first technology deal with an overseas retailer after shrugging off fierce price competition and food deflation to deliver higher half-year earnings.
Ocado is losing in on its first technology deal with an overseas retailer
Ocado, whose tie-up with Morrisons in 2013 helped it to the first pre-tax annual profit in its 15-year history this year, said its target remains to seal an international agreement in 2015.
Its focus is on North America and western Europe.
Interim pre-tax earnings rose 11.4 per cent to £38.2million on 15.7 per cent higher sales of £511.9million. New custom grew by 30 per cent.
Shares rose 16p to 446p.