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Ocado Group PLC reported on Tuesday a widened pretax loss for fiscal 2022, dragged by costs pressures and investments at Ocado retail, and as revenue missed market expecations.
The online grocer and retail-technology specialist
OCDO,
posted a pretax loss for the 52 weeks ended Nov. 27 of 500.8 million pounds ($604.2 million) compared with a loss of GBP176.9 million a year earlier.
Revenue came in at GBP2.51 billion from GBP2.50 billion, missing market expectations of GBP2.54 billion, according to a company-compiled consensus.
Retail revenue fell 3.8% to GBP2.2 billion, also missing market views of GB2.23 billion, due to lower value baskets despite customer growth, Ocado said.
Loss before interest, taxes, depreciation and amortization was GBP74 million compared with a positive Ebitda of GBP61 million and company-provided market expectations of a GBP66 million loss.
Write to Michael Susin at michael.susin@wsj.com
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