12.02pm EST
12:02
In the City, the FTSE 100 has closed 6 points lower at 7567, down 0.1% tonight.
Ocado led the fallers, sinking 13% to close at £12.25, the lowest since the end of March 2020, with news of its widening losses and high spending on investment worrying shareholders.
Michael Hewson of CMC Markets says:
Also on the slide, Ocado shares have slid to 22-month lows, despite improving full year revenues to £2.5bn, a decent improvement on last years £2.3bn.
However, a big increase in costs has seen group EBITDA fall to £61m, while losses increased to £176.9m, a big fall from last years £52.3m loss….
