LONDON: Britain's Ocado, the online supermarket and technology company, reported a 46per cent fall in first-half core earnings, reflecting the impact of a fire at a flagship robotic warehouse as well as accounting changes and the cost of share schemes.
Ocado made adjusted earnings before interest, tax, depreciation and amortisation of 18.7 million pounds in the 26 weeks to June 2 versus a restated 34.8 million pounds in the same period last year. That extra capacity was secured through a deal with Morrisons, Britain's No. 4 supermarket group, in May, giving Ocado sole use of its newest customer fulfilment centre in Erith, south east London.Ocado said retail revenue growth in the half was 9.7per cent, with the impact of the Andover fire estimated at 2per cent of sales.The fire did not stop Ocado making deals. In February it announced a 1.