LONDON (dpa-AFX) - British technology company Ocado Group Plc (OCDO.L) on Thursday reported narrower loss in fiscal 2024, helped by good performances in its technology solutions and retail sectors. The company also provided a positive outlook for the year ahead.
The company posted total group loss before tax of 374.5 million pounds in fiscal 2024, compared to a loss before tax of 393.6 million pounds a year ago. On an adjusted basis, loss before tax was 379.3 million pounds, compared to loss of 417.5 million pounds in fiscal 2023.
Loss before tax from continuing operations rose to 339.8 million pounds from 270.0 million pounds in the previous year. Adjusted loss before tax also climbed to 360.1 million pounds from 353.9 million pounds a year ago.
The company's loss for the period narrowed to 374.3 million pounds from 377.4 million pounds last year. On a per share basis, loss came in at 41.00 pence, higher than 37.27 pence in the prior-year. Loss for the period from continuing operations, however, rose to 339.6 million pounds from 253.1 million pounds a year ago.
On an adjusted basis, total group loss per share fell to 42.54 pence per share from 43.89 pence per share.
Total Group revenues climbed 14.1 percent to 3.16 billion pounds from 2.77 billion pounds last year. Revenues from continuing operations was up 11.6 percent to 1.21 billion pounds from 1.09 billion pounds a year ago.
Looking ahead, in fiscal 2025, the company expects 10 percent revenue growth in Technology Solutions with an EBITDA margin of 20-25 percent. Ocado Retail is expected to generate above 10 percent revenue growth in the year ahead with an underlying EBITDA margin of 4 percent.
Copyright(c) 2025 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2025 AFX News
