National online superstore, Ocado, has revealed that February’s devastating fire caused a loss of nearly £110m
Even so, the cost could nearly reach £142.8m.
But, the online superstore is optimistic about its outlook.
“We have never had as many opportunities to grow as we do today,” said Tim Steiner, Ocado’s chief executive.
The fire in Hampshire, which was on-going for over four days will cause an extra £15m in disruption in the last six months of the financial year.
The warehouse is set to be rebuilt in Andover alongside a facility in Purfleet, Essex.
Richard Hunter, head of markets at financial firm Interactive Investor said Ocado was at an “interesting juncture”.
“The bar will be set increasingly high as its partnerships fully come into force, with the hope that the projected revenues are fulfilled.
“The shares have had something of a difficult ride of late, having dipped 17% over the last quarter, although over the last year they remain 15% ahead, as compared to a 2% dip for the wider FTSE 100,” he said.
Ocado’s shares rose 5% in early trading on Tuesday.