Home Business News AO World reveals £15m Brexit stockpiling

AO World reveals £15m Brexit stockpiling

by Peter Smyth Tech Journalist
4th Apr 19 9:40 am

AO World has warned underlying earnings for the full year will come at the lower end of market expectations, the company revealed £15m of Brexit stockpiling.

Founder John Roberts said the company had boosted stock of fast-moving goods by £15m to prepare for a no-deal Brexit disruption.

The company said, “This will help ensure we can continue to deliver our market-leading proposition to our customers.”

In their full year trading statement, the company said they are expecting to report a 9.8% hike in UK revenues, or 5.4% rise with a boost from the recent Mobile Phones Direct acquisition stripped out.

Overall revenues are set to rise by around 13%, or 9% with Mobile Phones stripped out.

Roberts, founder and chief executive of AO World, said “Over the last eight weeks we have created a mindset shift from the numbers delivered in full-year 19; we are setting about realising our opportunities with pace and energy.”

Adding, “I am delighted to once again have the privilege to lead the business and excited by the scale of value creation that lies ahead of us for the benefit of all stakeholders.”

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