Ocado Q3 revenue soars 14.3%

Ocado’s sales continued to grow in its third-quarter, with the online grocery retailer reporting a 14.3% rise in total revenue.

The retailer’s sales rose from £276.5 million to £312.7 million, for the 13 weeks to 27 August 2017.

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During the same period, Ocado also grew its average orders per week by 16% to 254,000.

We are pleased to report another strong quarter of growth,” Ocado chief executive Tim Steiner said.

“Our industry-leading technology has continued to set the bar for customer service and satisfaction and we continue to grow sales at a rate significantly in excess of the average for our industry.”

Ocado recently became the first grocer in the UK to launch an app for the voice-controlled Amazon Alexa which allows customers who have Amazon accounts to update, add to, or track orders.

The retailer also noted that it was scaling up its capacity at its Customer Fulfilment Centre in Andover and was preparing to open its fourth and biggest centre to date in Erith in 2018.

“These investments, while increasing some costs in the short term, will allow us to meet the rapidly growing demand for our services from UK consumers while allowing us to offer the very latest technology to current and future customers of our Ocado Smart Platform,” added Steiner.