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| Ocado's losses widen despite increase in sales | Ocado's losses widen despite increase in sales |
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| Online supermarket Ocado has seen its losses widen despite increasing sales. | Online supermarket Ocado has seen its losses widen despite increasing sales. |
| The firm reported a loss of £3.8m for the 24 weeks to 19 May due to costs linked to its distribution deal with supermarket chain Morrisons and the opening of new warehouses. | The firm reported a loss of £3.8m for the 24 weeks to 19 May due to costs linked to its distribution deal with supermarket chain Morrisons and the opening of new warehouses. |
| However, sales rose 15.6% to £355.9m, with the average order size up 1.6% to £114.90. | However, sales rose 15.6% to £355.9m, with the average order size up 1.6% to £114.90. |
| Ocado chief executive Tim Steiner said it had been an "extremely busy" first half of the year. | Ocado chief executive Tim Steiner said it had been an "extremely busy" first half of the year. |
| "We remain well placed to take advantage of the accelerating structural changes in the industry," he added. | "We remain well placed to take advantage of the accelerating structural changes in the industry," he added. |
| Ocado now has 360,000 customers and said the rate at which it was acquiring new customers was up 50% for the period compared with last year. | Ocado now has 360,000 customers and said the rate at which it was acquiring new customers was up 50% for the period compared with last year. |
| The firm opened its first non-food distribution centre in Hertfordshire in the period, which it said would enable it to take advantage of the rising number of customers purchasing items other than food. | The firm opened its first non-food distribution centre in Hertfordshire in the period, which it said would enable it to take advantage of the rising number of customers purchasing items other than food. |
| It also opened its second warehouse in Warwickshire, which it will use mainly to fulfil its joint venture deal with Morrisons. | It also opened its second warehouse in Warwickshire, which it will use mainly to fulfil its joint venture deal with Morrisons. |
| In May, Morrisons announced a deal with Ocado that it said would enable it to launch an online grocery service by January 2014. Delivery vans will carry the Morrisons brand, with logistical support from Ocado. | In May, Morrisons announced a deal with Ocado that it said would enable it to launch an online grocery service by January 2014. Delivery vans will carry the Morrisons brand, with logistical support from Ocado. |
| Ocado was set up in 2000 by three former Goldman Sachs bankers and has yet to report an annual pre-tax profit. | Ocado was set up in 2000 by three former Goldman Sachs bankers and has yet to report an annual pre-tax profit. |
| In May, the former Marks and Spencer boss, Sir Stuart Rose, was appointed as its chairman. | In May, the former Marks and Spencer boss, Sir Stuart Rose, was appointed as its chairman. |
| Shares in Ocado fell almost 6% to 295p following the update, but still remain well above the 180p price that the shares floated at in July 2010. |