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| | Telegraph | Business | Ocado on road to profits and site expansion |
 | | Ocado, the internet retailer supplied by Waitrose, is set to turn a profit next year but is still some way off a stock market flotation, says chief executive Tim Steiner. |
 | | But the recent release of the company's November 2005 results drew unwanted attention to the fact it spent £200m – or £1 for every £1.35 in current sales – on developing a distribution centre in Hatfield, Herts, while losses widened. |
 | | Ocado now fulfils around 50,000 orders a week, with an average basket value of £106, and is likely to reach 60,000 orders by the end of the year. |
| telegraph.co.uk /money/main.jhtml?xml=/money/2006/09/06/cnocado06.xml (541 words) |
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