Posted on January 11, 2019 by staff

Revenue boost for listed online retailer


Leading online electrical retailer AO World grew revenue across the group by more than eight per cent in the final three months of the year.

The Bolton-headquartered firm said customers had responded positively to a longer Black Friday sales period in the UK this year, with overall revenue growth on these shores of 4.4 per cent for the quarter.

Revenue growth was higher for the listed company’s European business, at 31.3 per cent.

“Against a challenging backdrop, Q3 represents a solid performance across the AO Group,” said AO World chief executive Steve Caunce.

“We are on track with our plans as we continue to provide a great proposition for our customers.

“I am particularly proud of the hard work of the teams in the UK and Europe in this critical trading period which saw a record numbers of customers choose AO for their Black Friday and seasonal electricals purchases.”

The company completed the acquisition of Mobile Phones Direct at the end of last year in line with its strategy of broadening the categories offered for sale in our UK business.