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Home > Business > Ocado’s earnings jump on pandemic demand boost

Business

Ocado’s earnings jump on pandemic demand boost

Published by linker 5

Posted on February 9, 2021

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LONDON (Reuters) – British online grocer and technology group Ocado Group on Tuesday reported a 69% increase in 2019-20 core earnings, as the COVID-19 pandemic generating huge demand for home delivery.

Ocado made earnings before interest, tax, depreciation and amortisation (EBITDA) of 73.1 million pounds ($100.7 million) in the year to Nov. 29 2020, versus company guidance of “over 70 million pounds” and the 43.3 million pounds it made in 2018-19.

($1 = 0.7261 pounds)

(Reporting by James Davey; editing by Sarah Young)

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