Ocado Group (GB:OCDO) has released an update.
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Ocado Group PLC has reported strong interim results for the first half of 2024, with a 12.6% increase in group revenue to £1.5bn and significant improvements in EBITDA across all divisions, particularly a 493% increase in Technology Solutions. The company has also improved its underlying cash flow, with expectations to become cash flow positive by FY26, and raised its EBITDA and cash flow guidance for FY24. Operational advancements include technology rollouts and the upcoming launch of new Customer Fulfillment Centers (CFCs) in Madrid, Sydney, and Melbourne.
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