Ocado growth forecasts slashed

Goldman Sachs has cut its sales and earnings forecasts for online grocery group Ocado after the firm said its lack of warehouse capacity was continuing to hinder growth. Goldman, one of Ocado’s two brokers, revised its 2011 sales forecast down two per cent, and cut its 2012 forecasts by five per cent. It said forecast earnings before interest and tax would be 22 per cent lower this year, at £9.3m, while in 2012 earnings before interest and taxation should be 29 per cent lower.