Ocado has reported an increase in sales of 25% to £427.3m for the year to end November 2009. And, on a like-for-like basis, sales were up by 30% in the following 12 week period to 21 Feb.

While the online grocer is still to make its first profit, operating losses were substantially reduced last year, from £21.6m in 2008 to £14.4m last year.

The positive figures have led to renewed speculation that Ocado will seek a stock market flotation as early as July this year.

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