Ocado has reported strong sales in its first trading statement since its stock market flotation. But shares in the online retailer still slipped in early trading today.

Third-quarter sales increased by 29.5% to £126.5m, up from £97.7m for the equivalent period last year. For the 36 weeks to 8 August, sales were up by 29.8% to £372.2m.

However, shares in the company dipped by 4.5% this morning to 150p – down from a mark of 180p when Ocado listed in July. It had originally hoped for a valuation of 275p a share.

Average orders per week hit 92,834 during the past 12 weeks, up from 70,968 in 2009. But average basket size was down from £114.73 in 2009 to £113.59.

Ocado said the dip was due to customers using its delivery pass scheme that allows them to make top-up shops of £40 or more.

Read more
Ocado shares slide to new low (19 August 2010)
Watts to work with suppliers to develop Ocado’s core range (31 July 2010)
Ocado share price tumbles on debut (21 July 2010)