Advertisement
UK markets closed
  • NIKKEI 225

    38,202.37
    -632.73 (-1.63%)
     
  • HANG SENG

    18,313.86
    -165.51 (-0.90%)
     
  • CRUDE OIL

    79.16
    +0.17 (+0.22%)
     
  • GOLD FUTURES

    2,316.30
    -6.00 (-0.26%)
     
  • DOW

    39,056.39
    +172.13 (+0.44%)
     
  • Bitcoin GBP

    49,014.55
    -1,320.54 (-2.62%)
     
  • CMC Crypto 200

    1,305.59
    +10.92 (+0.84%)
     
  • NASDAQ Composite

    16,302.76
    -29.80 (-0.18%)
     
  • UK FTSE All Share

    4,544.24
    +21.25 (+0.47%)
     

Ocado's earnings dented by capacity constraint after fire

LONDON, July 9 (Reuters) - Britain's Ocado, the online supermarket and technology company, reported a 46% fall in first-half core earnings, reflecting the loss of capacity after a fire destroyed a flagship distribution centre as well as accounting changes.

The group said on Tuesday it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 18.7 million pounds ($23.4 million) in the 26 weeks to June 2 versus a restated 34.8 million pounds in the same period last year.

Ocado, whose shares have increased 48% so far this year, was confident about its outlook. "We have never had as many opportunities to grow as we do today," it said. ($1 = 0.7997 pounds) (Reporting by James Davey; editing by Kate Holton)