Online & Digital

AO World revenue soars 53% in H1

AO World has reported that total revenue soared by 53.2% to £717m in the six months to 30 September. The group’s UK revenue rose by 53.9% to £616m in the same period.

The online electrical retailer said that group pre-tax profit increased to £18.3m, from a loss of £5.9m in the same period last year.

The group also reported a “resilient” operational performance in the period, adding that it is “well equipped to serve the step change in online penetration”.

John Roberts, AO founder and chief executive, said: “This has been a half year like no other. I believe our market has changed as a result, forever. Online is now the dominant retail channel for customers and manufacturers alike and I am delighted by how our AOers have risen to the challenge of this structural shift in behaviour.

“We have grown share across all categories and the results we’re announcing today give huge confidence that our business is well set for the future to cement the changes. Our growth rates have increased from Q2 to Q3 as we unlock capacity constraints.”

He added: “We have taken huge strides forward on our commitment to fix all the fundamentals of our European business and we now have a profitable platform from which to accelerate our growth in Germany and beyond.

“I would like to thank all AOers and all our trading partners for making such structural change possible in such a short period of time. It has been an incredible team effort to serve customers, existing and new, in their moments of need that I believe they will repay us with loyal custom for years to come.”

 

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