Ocado delivers healthy jump in quarterly sales

Online grocery delivery firm Ocado said group gross sales rose 15.3% to £312.4m in the quarter to 21 February.

Retail sales rose to £286.7m from £252m.

Average weekly orders were up 16.9% to 214,000, although gthe average order size fell to £111.41 from £114.72.
Ocado said it had cash and cash equivalents of £38.3m and external borrowings of £66.5m.

Chief executive Tim Steiner said post period the company shipped more than 250,000 orders in a single week for the first time.

"We believe our focus on customer satisfaction and commitment to improving what we offer to consumers through innovation and our proprietary IP will support further growth. Notwithstanding the tough nature of the marketplace, we expect to continue growing ahead of the online grocery market."