Online supermarket Ocado reported a strong end to the year as retail revenue increased 12% in the 13 weeks to 2 December 2018, in line with expectations.
Group revenue was £390.7m during the period, up from £348.9m registered during the same period last year. Ocado is now processing an average of 320,000 orders a week – a 13.1% increase on the same period last year.
State of the art facilities at Andover and Erith continue to perform well, with Erith now processing over 30,000 orders per week. The retailer saw double-digit growth in average orders per week with average order size slightly down at £105.
The Group stated that it had cash and cash equivalents of £411m and external borrowings of £286m.
Ocado CEO Tim Steiner said: "Our unrelenting focus on delivering consistent high levels of service and value to our customers in the UK has produced another quarter of satisfying growth. The new capacity that we have brought on stream in Andover and Erith has enabled us to again report double digit growth in new customer acquisition. Both facilities are performing well and Erith continues to ramp up in line with our expectations.
“Although in many respects 2018 has been a transformative year for Ocado, the story has only just begun. We look forward to the coming year and continuing to turn our substantial opportunities into sustainable value for all our stakeholders."