Steve Moore and I worked together at t1ps.com ever since he left University. He is a very talented young analyst and a man of utter principle which is why he quit t1ps. He is now working with my on my Nifty Fifty product but also writing off his own bat and I am keen to support that. Apart from anything else he talks a lot of sense. As such I bring you a piece he published on Ocado today. Both Lucian Miers and I agree with his conclusion.
Shares in Ocado Group (OCDO), the FTSE-250 online grocer, have jumped higher today on the back of its announcement of results for the 53 weeks ended 2nd December 2012. However, with the shares at a current 115p, capitalising the company at more than £700 million, the following reviews today’s results and considers whether the share price run from 58.5p in November looks to have long-term legs…
The results showed an adjusted pre-tax profit of £1.8 million, from a prior year loss of £2.4 million, on comparative revenue 11% higher. However, on revenue for the 53 weeks of £678.6 million, the statutory pre-tax figure was a loss of £0.6 million as the company recorded £2.4 million of ‘exceptional items’ including “staff and other operational costs associated with the opening of Customer Fulfilment Centre 2 and a non-food distribution centre in Welwyn Garden City”.
on TradingResearchPoint | CommentsFiled under: