AO full year results to be in line with market forecasts
Online electricals retailer AO has said its full year trading results are expected to be in line with market forecasts.
The company has reported that its group revenue for the year ending 31 March will be around £796 million, which will be an increase of 14% year-on-year. Group adjusted EBITDA loss is expected to be around the middle of the range of market forecasts.
UK revenue for the year is likely to be up 8% to £680 million with revenue from AO.com up 9% to around £606 million. The company said growth in its fourth quarter was achieved despite a competitive market and limited advertising spend.
AO’s Europe business has seen its revenue climb by around 55% for the year in local currency. AO said: "As a result of our strong momentum we have now reached an inflection point in the financial performance in these existing Europe operations and expect to see further progress as we move forward."
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