It made the call after revenue growth accelerated in the company's fourth quarter as it won more customers.

The business is a 50:50 joint venture between Ocado Group and Marks & Spencer.

Investors were cheered as shares in Ocado Group jumped 6% in early trading.

But the joint venture did caution revenue growth in its new 2023/24 year would likely be hit by lower growth in average selling prices - and forecast a rise in the "mid-high single digits."

Ocado Retail said its revenue rose 10.9% to $772.4 million in the 13 weeks to November 26.

It was a fourth consecutive period of quarter-on-quarter growth.

The joint venture benefited from a 5.9% uptick in active customers to close to 1 million.

It also saw an increase in volumes, or number of items sold, and a rise in average basket value.

Ocado Retail also said it hit its highest ever level of sales over the peak Christmas trading period.

Overall sales increased 7% between December 20 and the 24th.

M&S itself was also a big Christmas winner.

Last week, it reported a better-than-expected 8.1% rise in UK underlying sales for its third quarter to December 30.