Ocado Fails to Impress the City with Its Loss-Making Online Grocery Business

Western Mail › September 08, 2010

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Summary

ONLINE grocer Ocado's difficult start to life as a public company continued yesterday after new sales growth figures failed to impress the City.

The Hertfordshire firm was forced to slash the price for its initial public offering to 180p in July - down from initial hopes of 200p and 275p - after retail analysts and fund managers hit out at the firm for overvaluing its business.

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Extract

Ocado Fails to Impress the City with Its Loss-Making Online Grocery Business

Shares started to drop as soon as the company was officially listed on July 26, falling to 131p at one stage, and today'...

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