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Ocado Retail's revenue growth accelerates in latest quarter

LONDON, March 18 (Reuters) - British online supermarket Ocado Retail said revenue rose 39.7% in its first quarter to Feb. 28, an acceleration from the previous quarter, reflecting continuing strong demand for grocery deliveries during the COVID-19 pandemic.

Ocado Retail, a joint venture between Ocado Group and Marks & Spencer, said revenue totalled 599 million pounds ($838 million) versus 429 million pounds in the same quarter last year. Revenue growth in the previous quarter was 34.9%. ($1 = 0.7148 pounds) (Reporting by James Davey; editing by Costas Pitas)

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