AO expects full year revenues will be in line with expectations

Online electricals retailer AO World has said that it expects its full-year revenues and adjusted EBITDA to fall within the range of “analyst expectations”.

The online retailer is aiming to release its preliminary results for the year ending 31 March in July this year, as it will expect to have a “clearer” view on outlook for the year ahead.

AO said during this “operationally challenging period”, the safety of its employees and customers has continued to be its top priority. As such, it has adapted the services it offers by ensuring social distancing and enhanced safety measures to protect all employees.

During the year AO also made “substantial” progress, despite a decline in the overall market of the categories it operates and has since grown its market share during the Covid-19 pandemic and has seen an increase in demand and sales.

John Roberts, AO founder and chief executive officer, said: “I want to thank the amazing team of AOers for their dedication, sacrifice and professionalism through the very recent period in particular but also throughout the last 12 months.  They have delivered in spades against the key priorities we set and we entered our new financial year in good shape.

 “For the last 20 years I believe we have been a driving force of change, making things better, easier and cheaper than ever before for customers with outstanding levels of service. Never before has that service been more necessary or relevant and so I am very proud of the record customer satisfaction scores we are achieving through this period.”

 He added: “In terms of online shopping behaviour, I believe we have seen five years accelerate into only five weeks and we will plan to cement that change as we impress more new customers than ever with the AO way.”