Ocado Group is set to report its interim results on July 17, following a period of accelerating growth at its online grocery joint venture, Ocado Retail.
The retail business, a 50:50 partnership with Marks & Spencer, saw revenue in its fourth quarter rise 17.5% to 715.8 million British Pounds, according to its most recent trading update.
The performance was driven by a 12.1% increase in active customers to 1.1 million and a 17% rise in the volume of items sold.
For the full 2024 fiscal year, Ocado Retail's revenue grew 13.9% to 2.69 billion British Pounds, which the company said was helped by investments in price and service.
"2024 was a year of strong growth," said Hannah Gibson, Ocado Retail's Chief Executive Officer.
"In the fourth quarter, we accelerated sales again - reaching 500,000 orders per week for the first time, at the end of November."
The company said it has confidence that the business will continue to show market-leading sales growth in fiscal 2025.