AO World plc 3rd Quarter Results (9576T)
January 12 2017 - 1:00AM
UK Regulatory
TIDMAO.
RNS Number : 9576T
AO World plc
12 January 2017
12 January 2017
AO WORLD PLC
Q3 TRADING UPDATE
CONTINUED GROWTH AND STRATEGIC PROGRESS
AO World plc ("the Group" or "AO"), a leading European online
electrical retailer, today gives a trading update for its third
quarter; the three months to 31 December 2016.
- Our UK business continued to grow: ao.com revenue increased by
10.3% year on year and our overall UK revenue by 8.9%, against
tough comparators from the same period last year.
- In Europe revenue for the period was up 28.4% year on year, on
a constant currency basis, reflecting a period of focus on building
our logistics capabilities, capacity and a solid base for the
business.
- Overall Group Revenue was up 12.3% for the quarter, year on year.
- We expect the Group's performance for the full year to fall
within the guidance previously given(1) but remain cautious about
the final quarter given the uncertain UK economic outlook, currency
impacts on supplier pricing and the possible effect on consumer
demand.
John Roberts, CEO, said:
"AO continues to make progress on its long term plan; delivering
sales growth across all categories and territories, and convincing
more customers to experience the AO Way.
We performed well over our peak period, particularly through
Black Friday, with the sheer dedication of our teams enabling us to
deliver to our customers as promised.
We also delivered strategic progress during the quarter. We
launched computing in the UK, and audio-visual in Germany,
retailing both these categories the AO Way - offering a simply
better customer experience, executed brilliantly by a brand and
team that customers and suppliers trust. Early trading in computing
has been encouraging and sales are building as we invest in
attracting traffic to the category on ao.com, while both our
businesses in Europe continue to gain traction and delight
customers.
Looking ahead we have three months left of the current financial
year and are mindful of the uncertain economic outlook. However, we
remain confident that our market leading proposition will continue
to drive customers to experience the AO Way and enter the New Year
excited by the opportunities ahead."
For further information, please contact:
AO World plc Tel: +44(0) 1204
Mark Higgins 672403
ir@ao.com
Tulchan Communications Tel: +44(0) 20
Susanna Voyle 7353 4200
Michelle Clarke ao@tulchangroup.com
(1) Our previous guidance for Group Revenue (using the exchange
rate applicable at the time) was GBP700.3m-GBP735.9m with Group
Adjusted EBITDA of GBP2.4m losses to GBP4.7m for the full year.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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