Ocado set to deliver impressive annual results with £1.27bn sales

 
Alys Key
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Ocado is expected to post its third year of profits (Source: Getty)

Grocery delivery service Ocado will announce its annual results on Tuesday, and is expected to report a profit for the third year in a row.

The group's sales are likely to be up 14.4 per cent year-on-year to £1.27bn according to a report from investment company Goldman Sachs.

Despite scepticism from City investors, the firm also forecast that Ocado’s underlying EBITDA will be up 4.1 per cent year on year to £84.9m, slightly below the Bloomberg consensus estimate of £85.7m.

The expected sales figures are in line with consensus expectations.

The increasing momentum in the company's results will be welcome news for investors after Ocado had a mixed 2016.

In the final quarter of last year, average orders per week increased 17.6 per cent to 241,000 from 205,000, however the average order size shrank by 2.9 per cent to £105.61 from £108.71.

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