Ocado Group PLC Trading Statement (2542R)
08 December 2016 - 6:00PM
UK Regulatory
TIDMOCDO
RNS Number : 2542R
Ocado Group PLC
08 December 2016
Ocado Group Plc
Trading Statement
Strong sales and order growth in final quarter
8 December 2016
Ocado Group plc ("Ocado") today announces its trading statement
for the 16 weeks to 27 November 2016.
Highlights
- Gross sales (Retail) increased by 13.6% over the last 12
months, and 13.1% in the quarter reflecting the attractiveness of
our customer proposition
- Average orders per week grew 17.6% to 241,000 in Q4 (Q4 2015:
205,000) driven by both new and existing Ocado customers
- Average order size decreased by 2.9% from both continued
industry-wide price deflation and further take up of the Ocado
"Smart Pass" leading customers to shop more frequently
FY2016 Q4
16 weeks to 16 weeks to
27 Nov 29 Nov Growth
2016 2015
---------------- ------------ ------------ ---------
Gross sales
(Group)(1)
Gross sales GBP436.8m
(Retail)(1) GBP398.1m GBP381.5m 14.5%
GBP351.8m 13.1%
Average orders
per week (2) 241,000 205,000 17.6%
Average order
size(3) GBP105.61 GBP108.71 (2.9)%
---------------- ------------ ------------ ---------
FY2016
52 weeks to 52 weeks to
27 Nov 29 Nov Growth
2016 2015
-------------- -------------- ------------- ---------
Gross sales
(Group)(1)
Gross sales GBP1,386.7m
(Retail)(1) GBP1,267.4m GBP1,204.4m 15.1%
-------------- --------------
GBP1,115.7m 13.6%
------------------------------------------- ---------
As at 27 November 2016 the Group had cash and cash equivalents
of GBP50.9 million and external borrowings(4) of GBP107.0
million.
Tim Steiner, Ocado's Chief Executive Officer, said:
"We are very pleased with the financial performance achieved
this year. The strong growth in sales and order volumes reflects
the attractiveness of our retail offer to customers.
"During the period, we were also pleased to announce that we
have commenced operations at our Andover CFC. This is the first of
our CFCs to use our new proprietary infrastructure equipment
solution and software, which will support the ongoing growth of our
business."
Contacts
-- Duncan Tatton-Brown, Chief Financial Officer, on 01707 228 000
-- David Hardiman-Evans, Head of IR & Corporate Finance, on 01707 228 000
-- Stephen Malthouse 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, Sizzle.co.uk and Fabled. Gross sales (Group) includes
the benefits from the Morrison agreement and Retail business. Gross
sales include revenue plus VAT and marketing vouchers.
2. Growth percentage calculated on a rounded basis.
3. Customers' total average basket including standalone Fetch,
Sizzle and Fabled orders declined by 3.7% to GBP103.15
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.
Note to Editors
1. Fetch.co.uk is the specialist online pet store from Ocado
supported by a veterinary team, offering customers a wide variety
of brands across key categories such as pet food, animal health
care and accessories
2. Sizzle.co.uk is the dedicated kitchen and dining store from
Ocado, sourcing quality, well designed and well priced products to
complement customers' regular grocery shops
3. Fabled is the dedicated premium beauty store by Marie Claire
in partnership with Ocado, operating online and from a flagship
London store, focusing on the core beauty categories of make-up,
skincare, fragrance and hair care, supported by a wellbeing offer
to provide a holistic beauty proposition.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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