Ocado - comment

Ocado Retail (The JV between M&S and Ocado Group) released a trading statement this morning, for the 13 weeks to 26th November, Ocado’s Q4. Active customers have now reached 998,000 at the end of Q4, up 6% year on year. The Group has returned to positive EBITDA for FY23. 

Christmas trading, outside the reporting period, also showed positive momentum, with an over 7% increase in sales. Guidance for FY24 was however a little muted, with revenue growth likely to be impacted by lower average selling price, resulting in a mid-high single-digit growth rate.