Ocado Group PLC Trading Statement (4494Z)
December 11 2014 - 2:00AM
UK Regulatory
TIDMOCDO
RNS Number : 4494Z
Ocado Group PLC
11 December 2014
Ocado Group Plc
11 December 2014
Trading Statement
Ocado Group plc ("Ocado") today makes its trading statement for
the 16 weeks to 30 November 2014.
FY2014 Q4
16 weeks to 16 weeks to Growth
30 November 1 December 2013
2014
----------------------------- ------------- ----------------- -------
Gross sales (Group)(1) GBP331.9m
Gross sales (Retail)(1) GBP311.4m GBP279.9m 18.6%
GBP271.0m 14.9%
Average orders per week(2,)
(3) 177,000 152,000 16.4%
Average order size(2) GBP109.74 GBP111.64 (1.7)%
----------------------------- ------------- ----------------- -------
FY 2014
52 weeks to 52 weeks to Growth
30 November 1 December 2013
2014
-------------------------- -------------- ------------------ -------
Gross sales (Group)(1) GBP1,026.5m
Gross sales (Retail)(1) GBP972.4m GBP852.4m 20.4%
-------------------------- --------------
GBP843.0m 15.3%
------------------------------------------------------------ -------
As at 30 November 2014 the Group had cash and cash equivalents
of GBP76.3 million and external borrowings(4) of GBP(44.9)
million.
Tim Steiner, Ocado's Chief Executive Officer, said:
"We are pleased with the continued steady growth in our business
against the backdrop of a more competitive grocery market. This
performance reflects an increasing number of customers who value
the wide range of products, keen prices and great service made
possible by Ocado's unique operating model, and further
demonstrates the ongoing shift to online grocery shopping.
"We remain committed to constantly improving the quality of the
proposition to customers, which we believe will support continued
growth, and although we anticipate the retail environment to remain
challenging, we expect to continue growing sales slightly ahead of
the online grocery market."
The Preliminary Results Announcement will be made on 3 February
2015.
Contacts
-- Duncan Tatton-Brown, Chief Financial Officer, on 01707 228 000
-- David Hardiman-Evans, Head of IR & Corporate Finance, on 01707 228 000
-- David Shriver or Katharine Wynne, Tulchan Communications on 020 7353 4200
Notes
1. Gross sales (Retail) refers to the results of Ocado.com,
Fetch.co.uk and Sizzle.co.uk, our retail operations. Shown
separately are the Ocado Group gross sales figures including the
benefits from the Morrisons agreement. Gross sales include revenue
plus VAT and marketing vouchers.
2. Refers to Ocado.com orders and includes standalone orders for
Fetch.co.uk and Sizzle.co.uk. Average order size excluding these
standalone orders declined by (0.5)%.
3. Growth percentage calculated on a rounded basis.
4. Gross debt excluding the finance lease payable to MHE JVCo.
5. The figures used in this announcement are as yet unaudited.
6. A copy of this trading update is available on www.ocadogroup.com.
Cautionary statement
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of risks and uncertainties
that could cause actual events or results to differ materially from
any expected future events or results expressed or implied in these
forward-looking statements. Persons receiving this announcement
should not place undue reliance on forward-looking statements.
Unless otherwise required by applicable law, regulation or
accounting standard, Ocado does not undertake to update or revise
any forward-looking statements, whether as a result of new
information, future developments or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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