Operating losses escalate at AO

For the half year to 30 September, AO World’s total operating losses had increased to £12 million, from £2.8 million for the same period in 2016. Revenue had increased by 13.3 per cent to £368 million with the UK accounting for £316.8 million and Europe for £51.4 million. 

CEO Steve Caunce commented “We are broadly on track with our plans for the year as a whole – with the positive impact if improving sales growth through the first half of the year combined with the first half biased phasing of our marketing spend – in spite of the challenging UK market conditions.” Adding “The AO culture is firmly embedding in Germany and The Netherlands and our foundations for growth are fully established.”