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Ocado makes first pretax profit, targets overseas deal

2015-02-03 13:14:54| Grocery - Topix.net

British online grocer Ocado reported an annual pretax profit for the first time in its 15 year history on Tuesday and said it aimed this year to seal its first technology deal with an overseas retailer. Ocado, founded by three former Goldman Sachs bankers in 2000, has divided analysts like few other stocks, with some viewing its door-step deliveries from giant distribution centres as the future of grocery shopping and others seeing it as a costly and complicated venture that will never make much money.

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