#john ibbotson

Ocado on course to deliver first annual profit as Q1 sales rise 18%

By Rob Davies

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Online grocer Ocado is on course to deliver its first annual pre-tax profit this year, after cheering investors with an 18 per cent rise in first-quarter sales.

Traditional supermarkets have been suffering at the hands of budget rivals such as Aldi and Lidl, but the online groceries market continues to expand.

And while Ocado has yet to make a profit since it launched in 2000,…