LONDON (dpa-AFX) - Online supermarket Ocado Group plc (OCDO.L) reported Tuesday that its first-half loss before tax was 142.8 million pounds, wider than last year's loss of 13.6 million pounds.
The statutory results were impacted by Andover fire. The latest results included exceptional loss of 99 million pounds mainly reflecting the net cost associated with the write-down of Andover CFC and associated assets.
Adjusted loss before tax for the first half was 43 million pounds, compared to loss of 12.9 million pounds a year ago. The company said the results were adjusted to remove Fabled which is now an asset held for sale.
Group EBITDA was 18.1 million pounds, down from 34.3 million pounds last year. Adjusted Group EBITDA was 18.7 million pounds, down 46.3 percent from prior year's 34.8 million pounds.
The company said its trading were in line with expectations.
Group revenue increased to 882.3 million pounds from prior year's 795.3 million pounds. Adjusted revenue grew 10.5 percent to 874.0 million pounds from last year's 791.2 million pounds.
Looking ahead, the company expects the EBITDA performance for fiscal 2019, adjusted for the impact of the Andover fire and share incentives, is in line with market expectations.
'We continue to be confident that Ocado Retail will achieve retail revenue growth of 10-15% in the balance of the 2019 financial year, despite the impact of the Andover fire, given strong underlying demand growth and our ability to utilise additional capacity in CFC4,' the company said.
Copyright RTT News/dpa-AFX