2020-04-01 REPIC 468×60 header

Business

Published on May 12th, 2020 | by The GC Team

0

Revenue and profits at AO meet analysts’ expectations

Online electricals retailer AO today said it expects to release its Preliminary Results for the year ended 31 March on 14 July 2020, stating that the revised timing will allow a greater amount of clarity on the outlook for the current financial year.

The business expects its headline financial results, excluding operations in the Netherlands, which do not continue into FY21, for revenue and adjusted EBITDA to fall within the range of analysts’ expectations.   

The company said it made substantial progress against immediate strategic priorities during the year, including UK MDA growth of 10% and acceleration of the journey to profitability in Germany.

Despite a decline in the overall market of the categories in which the business operates, AO has grown market share and seen increased demand and sales across all sectors since the coronavirus lockdown measures came into force. It also expects the online market in electricals to maintain a higher share than prior to the lockdown.

John Roberts, AO Founder and Chief Executive Officer, said: “For the last 20 years I believe we have been a driving force of change, making things better, easier and cheaper than ever before for customers with outstanding levels of service.  

“In terms of online shopping behaviour, I believe we have seen five years accelerate into only five weeks and we will plan to cement that change as we impress more new customers than ever with the AO Way.”

Tags: ,


About the Author

Avatar

Get Connected is the top trade journal for the UK electricals industry. Its website is the fastest, most interesting and up to date in the business.



Leave a Reply

Your email address will not be published. Required fields are marked *

2 + 5 =

Back to Top ↑
  • 2019 09 04 KitchenEx – Faber Cooker Hood 300×250 MPU
  • The Latest…

  • GC Latest Tweets…

    Technology distributor Exertis has appointed Jamie Brothwell as commercial director and Sam Williams as sales director of its accessories business... gcmagazine.co.uk/?p=… pic.twitter.com/aGQm…

    About 2 days ago from GC Magazine's Twitter via Twitter Web App · reply · retweet · favourite

  • Read The Latest Issue Now
  • Subscribe to GC's weekly e-Bulletin!
  • News by Category

  • Archived


By clicking "Subscribe", you agree with our terms:
Mud Hut Publishing Ltd will use the information you provide on this form to be in touch with you with relevant news and content. You can change your mind at any time by clicking the unsubscribe link in the footer of any email you receive from us, or by contacting us at info@gcmagazine.co.uk. We will treat your information with respect. For more information please view our privacy policy.
Stay connected with GC’s regular news updates...
Subscribe