The boss of online shopping company Ocado has snapped up a £54million bonus, despite his firm posting a major loss of £214.5million after a devastating fire at its Andover factory.

Tim Steiner got the windfall after an incentive scheme tied to the firm's share price paid out.

His bonus was awarded on top of a further £4.7million in salary and other bonuses for Mr Steiner, bringing his total pay in 2019 to £58.7million.

It comes after Ocado's high-tech warehouse at the Walworth Business Park burnt down in February last year.

The fire in Andover - which stretched over four days - cost the company £110million in damages.

The warehouse which was burnt down is set to be rebuilt and will be fitted with three sprinkler tanks - one more than the original building.

Ocado submitted a planning application to Test Valley Borough Council in December and has been adding amendments to the proposal.

On Wednesday, it submitted an amendment to its traffic plans which advises all lorries to use the A303 and A34.

The company is reporting strong sales but has not made a profit for three years.

The firm, which sells groceries online and has no physical stores, failed to live up to its potential, disappointing investors.

But since 2017, its fortunes have picked up as it struck partnerships with major retailers including M&S and Kroger in the US.

Shares in the business have soared, rising from around £2.50 to £12.55 on Tuesday. It has caused a five-year "growth incentive plan" to kick in, the firm explained in its 2019 annual report which was published today.

Some £88m will be shared among its top executives through the scheme, it said.

Alongside Mr Steiner's payout, the firm's finance director, Duncan Tatton-Brown, and chief operating officer, Mark Richardson, have both banked £14m. Luke Jensen, who runs Ocado's tech division, will get £6m.

In its annual results published on Tuesday, Ocado blamed its hefty loss on a fire at its Andover warehouse, which is now being rebuilt. The firm also said it had been spending heavily on building more fulfilment centres.

But it said revenue had risen 10% for the year to 31 December to £1.7bn.

The company, which was founded in 2000, now has orders to build 30 warehouses around the world, with the first overseas depots due to open in Canada and France this year.