Shares in Ocado jumped by as much as 18% after the UK online grocer reported narrowing losses and raised its annual guidance for its technology arm, which sells warehouse robots to other retailers around the world.
Technology revenues climbed by nearly 22% year on year in the six months to 2 June, while retail revenues were also up by 11%. Ocado sells groceries in the UK through its joint venture with Marks & Spencer and was the fastest-growing grocer for the fifth month in a row based on recent sales figures, according to the data analytics company Kantar.
