AO World enjoys continued revenue growth
Online electrical retailer AO World has reported further revenue growth in its latest financial quarter.
The London Stock Exchange-listed company said its overall UK revenue grew by 11.4 per cent in the three-month period to 31 December 2017. Meanwhile, revenue generated from ao.com increased by 11.2 per cent year on year.
The Bolton-headquartered firm’s European arm continued to grow strongly, rising by 58.4 per cent, while overall group revenue was up 16.6 per cent for the quarter.
Chief executive Steve Caunce praised the company’s performance over its peak period and said AO is “on track with our long-term strategy”.
“We are particularly pleased with the double digit sales growth in our UK business, which has been achieved against a fiercely competitive environment and normalised marketing expenditure,” he added.
“Our customers in the UK benefitted from our Black Friday deals this year over a two week period enabling us to manage demand more effectively and deliver an even better experience for customers.
“We are encouraged by the sales growth in our newer categories and we have continued to deliver excellent customer service throughout the period across the business.”
Looking ahead, Caunce said the company will need to be “mindful of the uncertain economic outlook”, particularly in the UK.
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