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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2011/02/ocado-reaches-profits-landmark.jpg"><img class="alignnone size-full" title="Upmarket online retailer Ocado has posted a profit for the first time in its history" src="http://londonglossy.com/wp-content/uploads/2011/02/min-ocado-reaches-profits-landmark.jpg" alt="Upmarket online retailer Ocado has posted a profit for the first time in its history"/></a></p>
<p>Upmarket online retailer Ocado has posted a profit for the first time in its history after it scraped into the black at the end of 2010.</p>
<p>The group, which was founded in April 2000 and has a delivery deal with supermarket Waitrose, made a pre-tax profit of £300,000 for its final quarter to November 28, although it remained in the red for the full year.</p>
<p>In its first set of results since floating on the stock market last July, Ocado revealed pre-tax losses more than halved to £12.2 million, including £3.5 million of flotation costs, from £25.5 million a year earlier.</p>
<p>Annual sales rose 29% to £551.1 million and the group said it had maintained growth since the year-end, with sales so far up 25%.</p>
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