UK online retailer Ocado has denied reports the company is looking for a buyer.

Media reports in the UK have suggested the retailer has indicated that it is up for sale but is struggling to find a buyer.

However, when contacted by just-food today (6 October), Ocado said the rumours are "without foundation".

For the 52 weeks ended 2 December 2007, the company posted a loss of GBP39.7m (US$69m), incurring operating losses of GBP31.4m.

However, Ocado chairman, Michael Grade said it had moved into profit at an EBITDA level in the final weeks of 2007.

The company posted a sales growth of 25% to GBP228.1m on a like-for-like basis. EBITDA loss for the financial year halved to GBP11.6m.