Former Marks & Spencer boss Sir Stuart Rose has seen his wealth grow by £1 million in a month after a sharp rise in the Ocado share price.
Rose, who was appointed chairman of Ocado almost a year ago, owns 750,000 shares in the grocery delivery firm. The stock has risen 31 per cent in the past month to 515.5 pence which values his stake at around £3.9 million.
Ocado is expected to say this week that sales since the end of November have increased by up to 15 per cent on the same period last year.
But while sales have grown, Ocodo has struggled to make a profit. However, despite investors misgivings, the site has attracted new investors of its new strategy of farming out its technology and systems.
This week, Morrisons launched its partnership with the delivery firm and Ocado is also understood to have discussed similar deals with overseas firms such as French hypermarket Carrefour and Safeway in the US.
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