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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ocado Group Plc | LSE:OCDO | London | Ordinary Share | GB00B3MBS747 | ORD 2P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-2.90 | -0.82% | 350.20 | 349.80 | 350.50 | 350.80 | 347.10 | 350.80 | 189,719 | 09:12:04 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Misc Retail Stores, Nec | 2.83B | -314M | -0.3838 | -9.20 | 2.89B |
TIDMOCDO
RNS Number : 5851O
Ocado Group PLC
10 February 2016
ANNUAL FINANCIAL REPORT
OCADO GROUP PLC
10 February 2016
Ocado Group plc
Annual Financial Report 2015
Ocado Group plc ("Ocado") has today submitted to the Financial Conduct Authority's national storage mechanism its annual report and accounts for the 52 weeks ended 29 November 2015 (as required by Listing Rules 9.6.1 and 9.6.3).
The annual report and accounts for the 52 weeks ended 29 November 2015 is available to view on Ocado's website: www.ocadogroup.com (in compliance with Disclosure and Transparency Rule 6.3.5(3)).
Ocado's annual report and accounts for the 52 weeks ended 29 November 2015 will also be available for viewing at the Financial Conduct Authority's national storage mechanism at www.morningstar.co.uk/uk/NSM.
This announcement follows Ocado's announcement on 2 February 2016 of its preliminary results for the same period. A condensed set of Ocado's financial statements and information on important events that have occurred during the year and their impact on the financial statements and related party information were included in Ocado's preliminary results announcement. That information together with the information set out below is the information provided in satisfaction of the requirements of Disclosure and Transparency Rule 6.3.5. The description of principal risks and uncertainties below is extracted in unedited full text from the annual report and accounts for the 52 weeks ended 29 November 2015. Reading this announcement and/or the preliminary results announcement should not be a substitute for reading the full annual report and accounts for the 52 weeks ended 29 November 2015. This announcement and the preliminary results announcement are available to view on Ocado's website: www.ocadogroup.com.
Principal risks and uncertainties
We have identified 14 principal risks and uncertainties facing Ocado. These are considered by the Board to be material to the development, performance, position or future prospects of Ocado. These risks, mitigations and changes during the year are summarised in the table below. They are not set out in priority order. Further information on risk is set out on pages 38 to 41 of the annual report and accounts for the 52 weeks ended 29 November 2015.
Objective Risks Mitigation Action/Control Change During The Year ============= ================= ================================================================= ================= DRIVING Failure GROWTH to maintain * Continuation of our LPP basket matching price é competitive comparison pricing Due to position increased * Maintaining a competitive number of promotional competition offers and increased availability of free delivery in the market slots for price sensitive customers * Creation of a choice of tiered price points within each category ------------- ----------------- ----------------------------------------------------------------- ----------------- Risk of decline * Weekly monitoring of the key indicators and the çè in high underlying drivers against published targets service levels ------------- ----------------- ----------------------------------------------------------------- ----------------- Failure to develop * Growth of the Ocado own label range alongside çè retail continued provision of the Waitrose range proposition to appeal to broader * Growth of branded ranges and expansion of supplier customer base base and sustain growth rates * Alternative sourcing scenarios considered in the event that the Waitrose sourcing relationship terminates * Continuation of investment and optimisation of the marketing channels to acquire new customers * Continued improvement of webshop and apps ------------- ----------------- ----------------------------------------------------------------- ----------------- Failure to develop * Second and third overseas technology centres opened çè sufficient management and technology * Improved IT prioritisation process capability or bandwidth to deliver on all our strategic priorities ------------- ----------------- ----------------------------------------------------------------- ----------------- Risk of not signing * Investment in our platform which enables OSP is also n multiple required for Ocado's expanding retail business. OSP deals Initial deployment will be in CFC Andover and CFC in the medium Erith term * Impact of not signing multiple OSP deals in the medium term is restricted to the lost opportunity to increase our earnings from our Platform business * The amount of capital invested in our platform is carefully controlled and we have the ability to reduce costs by scaling back the speed of the development ============= ================= ================================================================= ================= MAXIMISING A risk of EFFICIENCY delays in * Dedication of resources to the modularisation of é the technology and logistics systems to enable faster implementation replication Future new of new capacity capacity for both is reliant Ocado and * New capacity in development at CFC Andover and CFC on new, Morrisons Erith unproven technology * Regular Executive Board steering and full Board reporting of new technology projects ============= ================= ================================================================= ================= UTILISING Technological PROPRIETARY innovation * Engagement with a wide number of international çè KNOWLEDGE supersedes grocers to understand market needs our own and offers improved * Experienced teams in place who understand the current methods solutions and are aware of the global alternatives of food used in other industries distribution to consumers * Processes to identify patentable inventions and to ê apply for patents Multiple Failure patents now to protect filed although our IP * Established Ocado Innovation Committee to review our the value patent portfolio and discuss other IP issues of IP has increased, so increasing the value to others * Conducting "freedom to operate" searches on selected technologies
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February 10, 2016 02:00 ET (07:00 GMT)
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