Ocado leaves investors in suspense but insists overseas deal imminent

Kasmira Jefford
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INVESTORS hoping that Ocado would announce its long-awaited contract with an international partner were left disappointed yesterday – despite the company insisting that a deal was imminent.

“We’re still targeting to sign one this year,” chief financial officer Duncan Tatton-Brown said, adding the company was in muliple discussions with potential partners.

Ocado’s shares, which have fallen 21 per cent so far this year, stayed in positive territory last night as the online grocer reported a 15.3 per cent rise in gross sales to £252m in the 12 weeks to 9 August.

The company, which also sells products supplied by Waitrose, said average orders per week rose 16.6 per cent to 190,000, though average order size dipped 1.1 per cent to £110.46.