Investment in Germany and other European countries which form key new markets for AO World saw the home electricals group operating loss reach £10.6 million in the year to 31st March 2016 as against £2.2 million for 2015. However overall sales had risen to £599.2 million with European sales rising from £5.9 million to £40.7 million. The business is set to open a new distribution centre in Bergheim which will, it says, bring lower operating costs and greater efficiency to its European activities.
In the UK it plans to launch a range of computers for the first time which fits with its focus on encouraging customers to buy more products. CEO John Roberts said “Computing is a natural extension of our current categories and there is good potential for cross-selling to our existing customer base, making it an exciting opportunity for the business.”
Share