AO says full year sales and profits will be in line with expectations
Online electricals retailer AO World has said that it expects its full year revenue and adjusted EBITDA to fall within analysts’ expectations.
The company is aiming to release its preliminary results for the year ending 31 March on 14 July. AO said the timescale will help it to have a clearer outlook for the year ahead.
Despite a decline in the overall market of the categories in which it operates, AO said it has grown its market share during the pandemic and seen an increase in both demand and sales since lockdown began in its main markets of the UK and Germany.
The company has also adapted its services during the outbreak to protect staff in frontline operational roles such as delivery and warehousing. In addition, it has equipped staff with everything they need to work from home if this is possible.
John Roberts, AO founder and chief executive, said: “For the last 20 years I believe we have been a driving force of change, making things better, easier and cheaper than ever before for customers with outstanding levels of service. Never before has that service been more necessary or relevant and so I am very proud of the record customer satisfaction scores we are achieving through this period.
“In terms of online shopping behaviour, I believe we have seen five years accelerate into only five weeks and we will plan to cement that change as we impress more new customers than ever with the AO Way.”
