Tharsus' revenues halve as Ocado contract ends

ROBOTICS firm Tharsus has seen revenues more than halve as its key contract with supermarket chain Ocado came to an end.

- GRAEME WHITFIELD

Accounts for the Blyth company have been posted for the year ending November 30, 2024, in which revenues fell from £50.9m a year earlier to £24.5m. That was the third consecutive year of falling revenues, which had topped £90m in 2021.

The company remained profitable, however, posting an operating profit of £267,193, though this was down on the £1.1m profit reported a year earlier.

In the accounts, the company highlights the impact of the end of its long-term relationship with Ocado and outlines plans to target sales in new sectors.