Ocado Group PLC

Earnings Release • Sep 15, 2015

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RNS Number : 0175Z

Ocado Group PLC

15 September 2015

Ocado Group Plc

15 September 2015

Trading Statement

Ocado Group plc ("Ocado") today announces its trading statement for the 12 weeks to 9 August 2015.

Key financials

	12 weeks to 9 August 2015	12 weeks to  10 August 2014	Growth
Gross sales (Group)1 Gross sales (Retail)1	£272.0m £252.0m	£231.9m	17.3%
£218.5m	15.3%
Average orders per week2, 3	190,000	163,000	16.6%
Average order size2	£110.46	£111.64	(1.1)%

As at 9 August 2015 the Group had cash and cash equivalents of £51.8 million and external borrowings4 of £44.4 million.

Tim Steiner, Ocado's Chief Executive Officer, said:

"We are pleased with the continued steady growth of our business in a retail environment that remains tough.

"We believe our commitment to improving what we offer to customers through innovation and our proprietary IP will support further growth.  Notwithstanding the competitive nature of the marketplace, we expect to continue growing slightly ahead of the online grocery market."

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 Michelle Clarke, Tulchan Communications on 020 7353 4200

Notes

1.     Gross sales (Retail) refers only to the results of Ocado.com, Fetch.co.uk and Sizzle.co.uk. Gross sales (Group) includes the benefits from the Morrison agreement and Retail business. Gross sales include revenue plus VAT and marketing vouchers.

2.     Refers to Ocado.com, Fetch.co.uk and Sizzle.co.uk orders.  Average order size excluding standalone orders for Fetch and Sizzle declined by 0.6%.

3.     Growth percentage calculated on a rounded basis.

4.     Gross debt excluding the finance lease payable to MHE JV Co.

5.     The figures used in this announcement are 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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