Analyst views | Are you happy with Ocado's results?

PHILIP DORGAN PANMURE GORDON
2012 was another difficult year for Ocado. It failed to deliver accelerated sales growth and it needed to raise money... The debate now moves on to whether its assets are attractive to either M&S or Morrison and, if so, at what price?

DARREN SHIRLEY SHORE CAPITAL
Ocado’s 2011/12 preliminary results came in broadly in line with our previously downgraded expectations... Ocado remains an investment story all about potential rather than delivery, in our view. The next significant event is the commissioning of its second customer fulfilment centre.

CAROLINE GULLIVER ESPIRITO SANTO
Growth this year has been constrained by capacity limitations but the second Customer Fulfillment Centre is on track to open at the end of February with the implication being that sales growth should accelerate from the last six week run rate of 14.2 per cent.