Britain's Ocado says priority is to turn cash flow positive in 2025/26 July 17, 2025 at 2:12 AM LONDON (Reuters) Ocado, the British online supermarket and technology group, said its priority was to generate cash, rather than consume it, in its next financial year, as it reported a 76.
- - - Britain's Ocado says priority is to turn cash flow positive in 2025/26
July 17, 2025 at 2:12 AM
LONDON (Reuters) -Ocado, the British online supermarket and technology group, said its priority was to generate cash, rather than consume it, in its next financial year, as it reported a 76.5% rise in underlying earnings in its first half.
The group runs an online supermarket through a joint venture with Marks & Spencer, though its value is mainly driven by the sale of its cutting-edge robotic warehouse technology to retailers around the world.
It said on Thursday its core priority was to turn cash flow positive during its 2025/26 year - which starts in December - by reducing its costs, and be full year cash positive in the following year.
Shares in Ocado have fallen 35% over the last year, reflecting market anxiety at the pace of new site openings for its existing grocery retail partners and a lack of technology deals with new partners.
The group said it made adjusted earnings before interest, tax, depreciation and amortisation (EBITDA), its preferred measure, of 91.8 million pounds ($122.9 million) in the first half of its 2024/25 year, up from 52.0 million in the previous corresponding period. Revenue rose 13.2% to 674 million pounds.
Ocado said its expectations for the full year were unchanged.
($1 = 0.7468 pounds)
(Reporting by James Davey; editing by Sarah Young and Paul Sandle)
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