Quilter Cheviot says Ocado H1 results underscore tough 2026 as CFC closures, delays hit outlook

Reuters2026/07/17 07:53

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Quilter said Ocado’s H1 results underscored a difficult 2026, citing Kroger and Sobeys CFC closures as a major profitability drag.
Project slippage deepened concerns, with Kroger’s Phoenix CFC delayed two years; Lotte’s South Korea CFC pushed back to 2029.
Shares opened about 10% lower, reflecting heightened sensitivity to partner contracts, CFC openings, and utilization.
Excluding closure impacts, Technology Solutions revenue fell 8%; earnings dropped 18%, leaving group revenue up 1% and earnings down 11%.
Retail JV with M&S outperformed, with revenue up 15%; earnings rose to GBP 73 million from GBP 33 million.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Quilter plc published the original content used to generate this news brief on July 16, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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Quilter Cheviot says Ocado H1 results underscore tough 2026 as CFC closures, delays hit outlook

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