Ocado’s tech gobbledygook has investors in a tizzy
Inside Business: Analysts are shrugging their shoulders after shares shot up despite a £143m first-half loss
Online grocer Ocado wants everyone to understand that it is a tech company. To that end it has decided that it needs to take on some tech company trappings.
I’m not talking about a Silicon Valley HQ or the provision of chiropractors for staff like Google offers. No, Ocado is relying on talking the tech talk.
I’m going to quote what the company describes as the “key milestone” in its first-half results in full because it’s a doozy. Brace yourself for a looooong paragraph.
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