Shares in Ocado increased by 14% earlier today after the firm reported a pre-tax statuary profit of £612m in the six months to 30 June, compared to a loss of £153m in the same in 2024.

In the first half of its financial year, the online grocer reported a 13.2% increase in its group revenue, totalling £674m, while its technology solutions and Ocado Logistics revenue jumped by 14.9% and 12.1% respectively.

It added that its group EBITDA increased by 76.5% to £91.8m in this period.

The firm's retail business, which is a 50/50 joint venture with Marks & Spencer, saw its revenue increase by 16.3% to £1.52bn, which it said was driven by a 14.7% growth in its orders per week.

Chief executive officer at Ocado Group, Tim Steiner, said: "Ocado Group has delivered a strong first half and we have reached important milestones both in our UK business, as well as across our international partnerships.

"Our focus remains on turning cash flow positive during FY26, supported by continued growth with our partners and cost discipline across the business."

In its outlook, Ocado Group said that it expects its technology solutions section to record revenue growth of 10%, while its logistics platform is set to see "high mid-single digit" growth,

Its EBITDA is also set to total around £30m EBITDA in the full 2025 financial year.

Furthermore, Ocado expects eight controlled foreign corporations to go live in the next three years, in cities including Warsaw, Charlotte and Barcelona.

Equity research analyst at Quilter Cheviot, Lucy Rumbold, said that the firm’s share price has increased as a result of a "robust set of earnings numbers".

She concluded: "Ocado Retail has maintained its position as the UK’s fastest-growing grocer over for 12 consecutive months through to June 2025, and this continued growth means it is now approaching full capacity across its existing network.

"In another positive signal, the group reiterated its guidance, and its overall numbers were ahead of consensus estimates. The technology improvements have been a driving force for today’s numbers, and the market reaction offers a clear indicator that investors have hope that this progress will continue."

---