AO to meet profit guidance
The group stated that its core business continues to trade positively through Q4, and AO.com has returned to revenue growth during the quarter as expected
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Electricals retailer AO has announced that it expects to hit its previously pledged profit guidance with adjusted profit before tax expected to be at least at the top range of £28-£33m for the 12 months ending 31 March.
According to its pre-close update, the group also anticipates its revenues to reach £1.04bn.
The group stated that its core business continues to trade positively through Q4, and AO.com has returned to revenue growth during the quarter as expected.
John Roberts, CEO and Founder, said: “I’m pleased with the clear progress that we’re making after pivoting our focus to profit and cash generation during the 2023 financial year. As we expected at our half year results, we returned to revenue growth in our core business during Q4 and, as a result, we’re entering the new financial year with good momentum.
“With net funds on our balance sheet and a clear plan, we remain confident in our ability to deliver on our ambition for 10-20% revenue growth in the year ahead and medium-term profit guidance of 5% adjusted PBT margin.”
