Hatfield firm Ocado announces pre-tax losses of £12.5m

PUBLISHED: 11:56 04 February 2014 | UPDATED: 11:56 04 February 2014

Ocado

Ocado

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Hatfield-based online grocer Ocado has posted pre-tax losses of £12.5m.

OcadoOcado

But despite the gloomy figures, which were for the 2012-13 financial year, the firm insisted it was well positioned for 2013-14.

Ocado also confirmed this morning (Tuesday) its co-founder Jason Gissing would retire from the board at the annual shareholders meeting in May and leave the company, which is based at Hatfield Business Park.

On the firm’s future Tim Steiner, fellow co-founder and Ocado CEO, said: “Last year the food retail market in the UK was driven by consumers’ increasing preference for shopping online.

“Today the momentum seems unstoppable and, as the market evolves, we are leading the way in delivering market-leading service, innovation, and technology to the benefit of our customers.”

Speaking about Mr Gissing’s departure he said: “He has been an invaluable partner and friend to me and I will miss his daily humour and insights.

“We all wish him the very best.”

He added: “He has four young children and wants to spend more time with them.

“He also has a passion for various environmental and social concerns, and has chosen to focus on these important causes full-time in the future.”


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