Ocado sales surge but investors wary

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first_img Show Comments ▼ Share Video Carousel – cityam_native_carousel – 426 00:00/00:50 LIVERead More Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndoCrowdy FanShe Didn’t Know Why Everyone Was Staring At Her Hilarious T-ShirtCrowdy FanUndo Ocado sales surge but investors wary ONLINE retailer Ocado yesterday said its sales had surged by almost 30 per cent – but investors remained unconvinced and the announcement was greeted with a dip in its share price.The company, which recently completed a controversial flotation, hasn’t made an annual operating profit since it launched ten years ago, but hopes to go into the black next year.Ocado said gross sales in the 12 weeks to 8 August rose 29.5 per cent to £126.5m from £97.7m in the same period last year, supported by higher take-up of its pre-ordered fish and meat “service counter” offer.Ocado, which mainly sells Waitrose products, began listing its shares in July, but a lack of interest among investors forced the company to cut the asking price for the float to 180p from an initial figure of 200p-275p. It has been trading below that since the float.Its shares yesterday closed seven per cent lower at 146p valuing the company at around £825m.Chief executive Tim Steiner said he was “disappointed” for shareholders that the price was not higher but that the company was looking to the medium to long term to reap the rewards of hard work done now. “We are delighted with the (sales) performance. We hope that 2011 will be the year when people can stop calling us the loss-making online retailer”. Average order size during the quarter was £113.59, marginally down on the £114.73 recorded a year earlier. Ocado said gross profit margins were stable while earnings were rising in line with trend in the first half.“The group has to engage in material capital investment to sustain its sales growth and has yet to demonstrate profitability on an already considerable sales base, we continue to harbour reservations about the valuation of Ocado,” said Shore Capital analyst Clive Black. KCS-content center_img whatsapp Tuesday 7 September 2010 11:01 pm whatsapp More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPuffer fish snaps a selfie with lucky divernypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com Tags: NULLlast_img read more

German and French GDP growth lower than expected

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first_img John Dunne whatsapp Tags: NULL German and French GDP growth lower than expected Tuesday 15 February 2011 4:09 am The French and German economies expanded by less than expected in the fourth quarter, data showed on Tuesday, suggesting the euro zone may not have accelerated out of a third-quarter slowdown.Economists have forecast that the euro zone economy as a whole grew by 0.4 per cent in the final three months of 2010, after 0.3 per cent in the third quarter and 1.0 per cent in the second. The French and German economies make up almost 50 per cent of the single currency bloc.German gross domestic product increased by 0.4 per cent, against expectations of a 0.5 per cent rise and a deceleration from the 0.7 per cent growth registered in the third quarter.In France, the expansion was 0.3 per cent, half the expected increase, and the same level as in the July-September period. Economists had been expecting growth in the euro zone’s second largest economy to return to the 0.6 per cent in the second quarter.French Economy Minister Christine Lagarde said she hoped for stronger growth in the first quarter and maintained the government’s forecast for expansion this year of two per cent.Snow and icy weather may have played a role. Construction in particular was hit hard and can be expected to rebound.“This won’t last, it’s not the end of the recovery. The winter weather slowed things down and we should see a higher rate of growth in the first quarter,” Commerzbank economist Christoph Weil said, referring to the German economy.Growth in the third quarter tempered after a very strong April-June period – when the German economy powered ahead by 2.2 per cent quarter-on-quarter.French analysts were less upbeat about their economy despite Lagarde’s upbeat prognosis.“This fairly mediocre figure confirms France is on a path of sluggish growth,” said Alexander Law, chief economist at Xerfi“At the end of the day, if we take out technical and one-off elements, France is on an annualised growth rhythm of 1.2 per cent.” Show Comments ▼ whatsapp Share More From Our Partners Fort Bragg soldier accused of killing another servicewoman over exthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com last_img read more