Ocado record half-year losses due to new warehouses

Internet retailer Ocado saw half-year sales today but slumped back into the red after it was hit by the opening of new warehouses.

A generic stock photo of an Ocado home delivery van in south west London. Credit: Katie Collins/PA Archive

The company, which is chaired by former Marks & Spencer boss Sir Stuart Rose, said growing customer numbers boosted revenues by 15% to £382.7 million.

However, the cost of opening two warehouses in Dordon, Warwickshire and Welwyn Garden City, Hertfordshire saw the retailer record pre-tax losses of £3.8 million from maiden profits of £200,000 a year earlier.