AO raises annual profit outlook
Electricals retailer AO has raised the lower end of its full year profit range as it looks ahead to its first-ever share buyback programme.
In a statement ahead of its annual general meeting today, the retailer said it expects adjusted pre-tax profit to come in at £45 million to £50 million in the year to March 2026 compared to its previous guidance range of £40 million to £50 million.
It is also expecting first half B2C retail revenues to increase by 11% year-on year and group revenue to rise by 13%.
AO said the key drivers of its performance have been its membership programme, which offers discounted prices, and the expansion of its product range.
Subscribe to TRBThe company has also announced its intention to commence its first-ever share buyback programme of AO’s ordinary shares up to £10 million.
John Roberts, AO’s founder and chief executive, said: “I’m delighted that we are on track to deliver yet another period of double-digit revenue growth and a strong profit performance, whilst maintaining our globally leading customer service standards.
“Our strategy as set out at our full year results is working and we have an exciting pipeline of further value to deliver for customers in H2
“None of this happens by accident and as always I am hugely grateful for each and every AOer for their continued focus on, and passion for, delivering brilliant service to our growing customer base.”
