AO World reports fourth quarter surge in UK business
Fast UK growth means full-year revenue from AO.com is likely to come in 27% ahead of last year, its parent company said this week.
White goods to entertainment retailer, AO World said in a pre-close trading update that its UK business performed strongly during the fourth quarter, pushing both revenues and expected earnings ahead of expectations. At the same time, it said, it had increased its share of the market.
"As a result," it said, "we expect full-year UK revenue growth to be c 18.5% with revenue growth from AO.com to be c. 27% and UK adjusted EBITDA to be C. £17m."
It said full-year expectations for the UK business were unchanged.
AO World launched its first international website in Germany
in 2014. This March it added to that with a Dutch website, which uses infrastructure from its German operations, which includes warehousing and head office facilities. It is moving to a regional distribution centre in Bergheim later this year, and will focus on increasing growth from the new facilities.
This week it said it expected its European revenue to meet expectations, and that its earnings would be slightly better than expected, thanks to a continuing focus on efficiencies.
AO.com is a Top250 retailer in the IRUK Top500