UK online grocer Ocado posted a 28.7% rise in underlying first half earnings as it won new customers who increased their average spend, though it still made a loss at the pretax level.
Shares in Ocado have risen nearly five-fold since November.
They hit a record high last month in the wake of an over £200m sterling 25-year joint venture deal with Britain's fourth largest grocer, Wm Morrison, to provide its online grocery operation by January 2014.
Ocado said that earnings before interest, tax, depreciation and amortisation (EBITDA) was £19.2m in the 24 weeks to May 19.
That compared to analysts' consensus forecast of £18.1m and was up from £14.9m the same time last year.
However, the firm made a statutory pretax loss of £3.8m compared to a profit of £0.2m the same time last year, due to the investment it has made in its infrastructure.
Ocado has not made an annual pretax profit since it was founded in 2000 by three former Goldman Sachs bankers. Britain's traditional supermarkets are seeing little, if any, growth but its online grocery market is growing about 16% a year.
Ocado's first half sales rose 15.2% to £382.7m and the firm said it expected to continue to grow broadly in line with the market.
"We remain well placed to take advantage of the accelerating structural changes in the industry as more customers choose online delivery for their grocery shopping," chief executive Tim Steiner said.
Ocado has forecast the Morrison deal would deliver an annual profit contribution in the "mid-teens millions of pounds", while Morrisons' upfront payment of £170m would enable it to pay down £85m of debt.
