Skip to content
Subscriber Only

Ocado Slips to First-Half Loss on Fees for Morrison Deal

Ocado Group Plc, the U.K.’s largest Internet-only grocer, posted a first-half loss on costs to open a new warehouse and fees associated with a deal to bring William Morrison Supermarkets Plc online.

The pretax loss was 3.8 million pounds ($5.8 million) in the six months ended May 19, Hatfield, England-based Ocado said today in a statement. That compared with a profit of 181,000 pounds a year earlier. Excluding one-time items, the loss was 1 million pounds, compared with the median estimate in a Bloomberg survey of three analysts for a loss of 1.9 million pounds.