Blog: Ocado float admission raises eyebrows
Dean Best | 17 June 2009
Today's (17 June) admission from Ocado, the UK online food retailer, that is aiming to float on the stock exchange next year came as a surprise.
Ocado has already proved an attractive investment for at least industry player, Procter & Gamble, which bought a stake in the business last year.
However, Ocado operates in a buoyant channel but it is facing fierce competition from the likes of Tesco and Sainsbury's and is yet to turn a profit.
What's more, one of the company's founders, Jason Gissing, is reported, in the not-too-distant past, to have been opposed to a possible float.
According to The Times, Gissing said last year: "I would rather shoot myself than be FD of a listed company. I didn’t start Ocado to sit in a room full of suits and have them abuse me about quarterly earnings.”
Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....
FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....
To follow on from our earlier notice and after some hard work from our technical team, just-food is back live after today's power outage....
Much of the UK has felt the impact of Storm Doris today - and just-food's head office has been no exception....
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