6 days ago
Ocado Pretax Profit Jumps on Valuation of M&S Joint Venture
Ocado Group Plc posted a rare pretax profit helped by the valuation of its grocery delivery joint venture with Marks & Spencer Group Plc.
The company reported a statutory profit of £612 million ($820 million) in the first half of the year, compared with a loss of £153 million in the same period a year ago. That includes an accounting boost of £783 million from the Ocado Retail venture with M&S, which took over reporting responsibility this year.
