Ocado Retail (LON:OCDO) posted an 11.4% rise in retail revenue on Tuesday in its third quarter results.
Shares in Ocado, which has faced two fires this year alone, were up during trading on Tuesday morning.
The British online supermarket said that, for the 13 weeks to 01 September, retail revenue amounted to £386.3 million, compared to the £346.9 million figure from the same period a year prior.
Average orders per week grew 12.1% to 314,000 and average order size was down by 0.8%, which the company said reflects a slightly greater frequency of purchase.
Ocado Retail is a joint venture between Ocado and Marks & Spencer (LON:MKS), which was completed in August.
“These first set of results from the joint venture between Ocado Group and M&S show the resilience of Ocado following the Andover fire and the momentum the business now has,” Melanie Smith, Ocado Retail’s Chief Executive Officer, said in a company statement.
“As we continue to enhance our offering and add more capacity in the UK, our leading partnership will deliver the very best experience to an ever-growing number of customers,” Ocado Retail’s Chief Executive Officer continued.
“Bringing Ocado and M&S together on-line will give UK consumers even greater choice, value and service and will create important new opportunities for our colleagues, suppliers, and other stakeholders. These are really exciting times for Ocado as we prepare to launch the full M&S food range online for the first time ever, which customers will be able to buy alongside their other favourite products on Ocado.com from September 2020 at the latest.”
Elsewhere in the supermarket sector on Tuesday, latest Kantar data revealed that the UK grocery market returned to growth, and Ocado was the retailer to grow the fastest.
Shares in Ocado Group plc (LON:OCDO) were trading at +0.74% as of 10:16 BST Tuesday.
Shares in Marks and Spencer Group plc (LON:MKS) were trading at -0.73% as of 10:19 BST Tuesday.
