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The online supermarket and retail technology group is building centres in countries including the US, Canada, France and Spain.

It says it is on the path to building a business with profits of £750million plus.

However, Clive Black, head of research at Shore Capital, cast doubt on Ocado’s claim that it will not need a cash injection in the medium term.

He said: “We do not see this as a fund raise to deliver growth from a position of strength as opposed to a business that is burning cash and needs access to equity capital and liquid resources.”