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Posted by
Two Blokes Jul 17 -
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Stock
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Ocado Group PLC (LSE:OCDO) shares whizzed 13% higher after the online delivery group reported a 13.2% increase in revenue and a 77% increase in underlying profits in the first half of the year. Revenue of £674 million was generated in the 26 weeks to 1 June, with 14.9% growth from the Technology Solutions arm, which builds robot-run warehouses (or 'customer fulfilment centres') for overseas grocery groups, and 12.1% from Ocado Logistics, which operates CFCs and delivery services for UK partners, Ocado Retail and Morrison Supermarkets.
