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Bloomberg
Ocado Group Plc raised its profit forecast as the pandemic boosts demand for online groceries, and agreed to buy two robotics companies for about $287 million.
The company said it expects full-year earnings to exceed $77 million before interest, taxes, depreciation and amortisation. The previous target was for Ebitda of more than 40 million pounds.
Ocado said its joint venture with Marks & Spencer has had strong sales, and the company said it’s buying Kindred Systems for $262 million and Haddington Dynamics for $25 million to add more robotics technology for its warehouses.