AO.com says that extremely volatile market conditions combined with inflationary pressures are impacting its performance and that it is delaying the release of its annual results for up to 8 weeks while it takes action to strengthen its balance sheet.
It is currently reviewing its German business which has borne much higher market costs but says that it will be focused on ensuring its cost base is compatible with lower revenues.
The company said: “Despite the current market challenges, we remain confident in AO’s long term prospects given the inherent resilience of our business model, the quality of our customer proposition and the ongoing structural shift to online.”
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