Overall revenue for the year to March 31st increased to £976.8 million for AO World, on online home appliances specialist, with the UK enjoying an 8.1 per cent lift. However whilst the business had been making progress in Germany and The Netherlands the business has posted a £13.5 pre-tax million loss.
Steve Caunce, CEO said: “The new financial year has started well in both the UK and Europe, with UK revenue growth returning to double digit levels against prior year. Whilst we remain cautious on outlok given economic and competitive pressures on the UK electricals market we are confident of achieving our stated goals of future growth in the years ahead.”
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