Proactive Investors - Run By Investors For Investors

AO World says Europe business has reached inflection point

Sales in Europe rose by 55% and AO remains on track to meet the targets set for 2021,
white goods
UK sales were solid

AO World PLC’s (LON:AO) start-up European business has reached inflection point and will improve from here on, the white goods retailer claimed today,  

AO has been investing heavily to set up a European operation, which will mean another full-year loss this year to March though this will be in the middle of the expected range, said the statement.

Sales in Europe rose by 55% and AO remains on track to meet the targets set for 2021.

Annual results overall will be the middle of market forecasts after good sales in the UK over the second half.

Group turnover to March will be £796mln, up 14% year on year and slightly above the mid-point of analysts' expectations. 

UK revenue was £680mln, up 8% year on year with 9% better at £606mln, but promotional spending was cut back to maintain margins in a competitive market.

View full AO. profile View Profile

Ao World Timeline

Related Articles

medical imaging graphic
Here we take a closer look at the imaging and diagnostics firm IQ-AI
May 23 2019
Company is looking for more acquisitions after integration of Metro Rod
May 21 2019
"The group's performance over the past three years demonstrates the continuing success of our strategy to access more customers and markets," 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