Home Business News AO world sales increase

AO world sales increase

by LLB Reporter
3rd Jun 19 9:56 am

AO World are expected to announce on Tuesday that their underlying losses have narrowed, as they are to post their first annual results since the founder John Roberts returned to the position of CEO.

For the year to the end of March, underlying earnings are to set to come in at the lower end of expectations with a £400,000 loss before interest, tax, depreciation and amortisation.

In 2018 underlying losses were £3.4m. Numis analysts had expected a pre-tax profit of £13m which is down from £16m in 2018.

Revenue is on track to rise by almost 13% to £900m, this includes the boosts from the newly acquired Mobile Phones Direct business.

Analysts at Whitman Howard Research said: “Our overall view is that he is motivated to re-energise the business over so long as it takes and to protect the value of his investment.

“Proprietorial management is not to everyone’s taste. But we think that some impatience with performance is a good thing here.”

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