Ocado Swings To Profit

Ocado Group PLC OCDGF swung to a profit from a year-ago loss. Ocado reported its profit at 2.09 million pounds ($3.33 million) in the first half ended May 15, compared with a loss of GBP6.71 million, in the year ago period. Its sales surged 20% y/y to GBP276.62 million, from GBP230.33 million. Ocado shares gained 2.18% to close at $3.01 on Friday. Read more from Benzinga's Company news.