You have to give it to the management of Ocado for sticking to their guns. Since the online grocer was founded nearly two decades ago, Ocado’s top brass have had to spend almost as much time trying to convince naysayers about the wisdom of the company’s business model as they have actually running the business.
This is because, on the face of it, there are many reasons to be bearish on Ocado. This is a company that claims to be the best online food retailer, not only in the UK but possibly even the world, but has barely made a profit since it started. Ocado only generated its first profit — a modest £7.2 million — in 2015, which then rose to £11.9 million in