Ocado Group PLC backed its fiscal 2022 guidance on Tuesday supported by a robust fourth-quarter performance and said it has started the new fiscal year with a record Christmas performance.
The online grocer and retail-technology specialist
said retail revenue came in at 549.4 million pounds ($670 million) for the 13 weeks ended 27 Nov., up 0.3% compared with the same quarter last year.
The company said that active costumers of Ocado.com rose 12.9% on the year, offset by the reducing frequency in customer shopping due to the cost-of-living crisis.
Revenue for fiscal 2022 fell 3.8% to GBP2.2 billion compared with prior year.
The company backed its fiscal 2022 guidance, where it expects sales to decline and to finish its fiscal year with close to break-even earnings before interest, taxes, depreciation and amortization.
Looking ahead, the company said that fiscal 2023 started strongly, with sales up 15% over the five days before Christmas, and orders up 13%.
“Ocado remains confident, in the light of strong customer acquisition and continued improvements to underlying productivity, that sales and Ebitda margin will recover strongly,” it added.
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