The online supermarket and retail technology group is building centres in countries including the US, Canada, France and Spain.
It says it is on the path to building a business with profits of £750million plus.
However, Clive Black, head of research at Shore Capital, cast doubt on Ocado’s claim that it will not need a cash injection in the medium term.
He said: “We do not see this as a fund raise to deliver growth from a position of strength as opposed to a business that is burning cash and needs access to equity capital and liquid resources.”
Published at Wed, 22 Jun 2022 12:14:00 +0000