Ocado moves towards profit January 30, 2011 Grocery delivery service Ocado is expected to report a significant reduction in its losses when it reports its first annual results as a listed company tomorrow. Annual pre-tax losses at the online retailer are predicted to be around £11.6m in the year to November 2010 – less than half of the £25.5m reported a year [...]
FTSE climbs up from sluggish start January 24, 2011 From a sluggish start, the FTSE climbed until almost back through the 6,000 barrier, before falling slightly to close up 47.6 points or 0.81 per cent at 5,943.85. Defensive stocks gave the index strength while the market shrugged off early fears about banks after Saturday’s speech by John Vickers, chair of the Independent Commission on [...]
Ocado sales increase but jury still out January 10, 2011 ONLINE grocer Ocado yesterday reported a 27 per cent sales rise in the four weeks to Christmas – but some analysts still questioned the company’s progress following a troubled float. The firm posted gross sales of £50.9m for the period, helped by more customers shopping online instead of going to supermarkets in freezing weather conditions. [...]
Ocado sales on track despite weather January 10, 2011 Online grocer Ocado reported a 26.7 per cent rise in December sales as the popularity of internet shopping and upmarket foods helped it to thrive despite disruption from severe winter weather. The loss-making group, whose shares have been on a roller-coaster ride since they floated in July, said the rise in December gross sales followed [...]
Ocado soars to fresh highs as it leaves IPO blues behind January 5, 2011 SHARES in Ocado, the online grocery retailer, rose to a new record yesterday, reaching a high of 212.4p after lunch before falling back to close at 200p, giving the firm a market capitalisation of £1.1bn. The 200p close is 5p up on the previous day when Ocado shares traded above their 180p July flotation price [...]
FTSE 100 rebounds as banks rally and miners pare losses January 5, 2011 BRITAIN’S top shares rallied yesterday after employment data from the US showed the economic recovery was picking up steam, which helped miners and oil stocks pare losses and banks rally. The FTSE 100 closed up 29.99 points, or 0.5 per cent, at 6,043.86, bouncing off a session low of 5,964.43. Miners pared losses and oil [...]
BEST OF THE BROKERS January 5, 2011 OCADO UBS has downgraded the online grocer to “neutral” from “buy” with an increased target price of 197p, following share price gains and an improvement in valuations among Ocado’s peers such as Amazon and Asos. It adds that the trading statement due on 10 January will shed light on the firm’s progress since floating. BETFAIR [...]
Ocado shares top float price January 4, 2011 Shares in online grocer Ocado rocketed past their 180p float price for the first time yesterday, hitting 196.7p ahead of its first update since joining the stock market last July. The company, which is yet to post a profit, gained 10 per cent in trading, its steepest rise in more than a month. It will [...]
FTSE hits 31-month high on first close of 2011 January 4, 2011 LONDON saw a storming start to 2011 as the FTSE moved above the 6,000 level in the year’s first trading session to close at a 31-month high. The FTSE 100 moved up 1.9 per cent or 113.93 points to close at 6,013.87, its highest level since June 2008, buoyed by rises on US and European [...]
Betfair tanks after falling at first hurdle December 14, 2010 RACING certainty Betfair yesterday dismayed punters after reporting lower than expected half-year earnings. The online gambling firm had ridden a lucky streak since its £1.4bn flotation earlier this year. But its pre-tax profits dipped 18.9 per cent to £7.4m after taking account of one-off items including the cost of its IPO, down from £9.2m the [...]