The share price of online grocery giant Ocado rose only fractionally in Wednesday business despite news of roaring revenues growth during the first half. The Hertfordshire business announced that sales clocked in at £659.6m during the six months to May 28th, up 12.5% from the corresponding 2016 period. The supermarket said that higher costs related to the opening of its new distribution in Andover, Hampshire forced profits lower in the period. And this helped sales at the company rise 10.7% in the 12 weeks to June 28th, the researcher noted. On top of this, Ocado could see demand for its premium-priced goods come begin to peter out should UK inflation continue to rise.

Source: Forbes July 05, 2017 14:37 UTC