Proactive Investors - Run By Investors For Investors

AO World reports first quarter revenue growth but warns of challenging UK market

AO World expects full year results to meet market forecasts
AO World
AO World remains on track with its strategic plan

Online electricals retailer AO World posted a 2.5% increase in UK first quarter revenue but warned that the UK market remains “challenging” as consumers feel the pinch from rising living costs.

Revenue in the company’s core UK website rose 6.2% in the three months to June despite a slowdown in the major domestic appliances market, such as dishwashers and washing machines.

In Europe, revenue rose 57.6% in local currency, or, 73.1% in sterling, as the company expanded its operations across the continent.

AO World chairman Geoff Cooper said full year results are likely to fall within the range of market expectations and the company remains on track with its strategic plan.

“Our momentum is encouraging and we remain confident in the delivery of the plan we set out at our capital markets day in February,” he said. 

It marked the first full quarter of results since Steve Caunce took over as chief executive from AO World founder, John Roberts, in February.

View full AO. profile View Profile

Ao World Timeline

Related Articles

Drain
December 18 2018
MetroRod has been in operation for 30 years but only became a franchise relatively recently
Scans and MRI
November 28 2018
The firm's subsidiary, Imaging Biometrics, recently appointed a South Korean distributor a few weeks after receiving the first commercial order for its StoneChecker technology
H&T
December 03 2018
“I think customers are seeing that we do offer value and that really is the answer,” said chief executive John Nichols

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use