Ocado to Consider Floatation this Year

Ocado, the online grocer is pondering over the possible floatation with a value of more than £600m this year, enjoying increasing sales over the Christmas season. Ocado claimed that online grocery shopping was finally gaining traction among its costumers due to its soaring sales accounting to a rise of 49 per cent year-on-year in the trading week to December 26, to £8.9m in the sales.

The Company, established in 2002 by three former Goldman Sachs bankers is 29 per cent owned by the pension scheme of the John Lewis Partnership, Waitrose’s employee-owned parent company and is currently under a contract to deliver Waitrose goods until 2013.

The performance claimed an average order value to be £136 in the four weeks to December 26, with 99.9 per cent order accuracy, following strong Christmas trading from Waitrose via the internet.

However, the snow played a havoc resulting in the inability for the company to deliver the goods to some customers. But the company still managed to offer its affected customers an alternative delivery slot before Christmas day.

Ocado has unceasingly been involved in undertaking steps to improve its services such as matching Tesco's prices on more than 7,000 branded goods; increasing its product range complimenting it with internet-only prices, including adding a bespoke fishmonger and butcher.