AO profits surge after ‘a half year like no other’


AO profits surge after ‘a half year like no other’

Online electrical retailer, AO World, has reported strong revenue growth for the six months up to 30 September, up 53 per cent.

Revenue for the Bolton-based retailer hit £717m for the half year. Pre-tax profit also surged to £18m, compared with a loss of almost £6m for the same period last year.

AO founder and chief executive, John Roberts said the company’s market had been changed “forever” after what he described as “a half year like no other”.

He said: “Online is now the dominant retail channel for customers and manufacturers alike and I am delighted by how our AOers have risen to the challenge of this structural shift in behaviour.

“We have grown share across all categories and the results we’re announcing today give huge confidence that our business is well set for the future to cement the changes. Our growth rates have increased from Q2 to Q3 as we unlock capacity constraints.

“We have taken huge strides forward on our commitment to fix all the fundamentals of our European business and we now have a profitable platform from which to accelerate our growth in Germany and beyond.”

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