Online grocer Ocado has revealed interim losses nearly halved and said annual earnings for its robotic warehouse arm would be better than expected despite delays with some key contracts. The group reported a £154 million pre-tax loss for the six months to June 2 against losses of £290 million a year ago.
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00:00Hello, my name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post. Here
00:05are your headlines for this morning.
00:07The online gross at Ocado has revealed interim losses nearly halved. It also said that annual
00:15earnings for its robotic warehouse arm will be better than expected. The group reported
00:21a £154 million pre-tax loss for the six months to June 2nd against losses of £290 million
00:30a year ago. It notched up revenues of £1.54 billion for the first half, boosted by a 21.8%
00:38surge in its technology solutions business, which powers online grocery businesses and
00:44automated warehouses for other retailers.
00:48So update this morning for Ocado, which has revealed its interim losses nearly halved.
00:53My name's Greg Wright. I'm the Deputy Business Editor of the Yorkshire Post.