AO World: Record earnings after Music Magpie acquisition Retail AO World has reported better-than-expected revenue growth after its acquisition of Music Magpie and an expansion in its membership scheme helped boost the figures. The electrical retailers told markets this morning that life-for-like adjusted profit before tax grew 32 per cent to £45m in the year ended March 31, above the top end of its [...]
WHSmith and Inchcape lead fall in retail stocks Retail UK retail stocks have dropped in value this morning, led by a sell-off of WHSmith, Inchcape and AO World. Earlier today, tax body RSM said that price rises at UK retailers as a result of the tariffs were “inevitable”. “The tariffs announced by President Trump this week would in themselves be a blow to the [...]
Profit jumps at electrical retailer AO World Retail Profit has risen more than twice as fast as sales and far outstripped revenue growth at online electrical retailer AO World. The company told markets this morning that it expects retail revenue to increase by around 12 per cent in the 12 months to March 31. It expects like-for-like revenue to increase by around seven [...]
AO World: Double-digit growth ahead of musicMagpie deal November 26, 2024 Electrical retailer AO World has announced double-digit growth in retail revenue and operating profit as it continues its “laser focus” on cost and efficiency ahead of its acquisition of musicMagpie. Business-to-consumer retail revenue grew by 13 per cent year on year in the six months ended 30 September from £339m to £382m, AO World told [...]
FCA approves £10m acquisition of Musicmagpie by AO World November 6, 2024 The UK’s financial watchdog has approved the acquisition of Musicmagpie by AO World for £10m. First announced in October, the deal will see the electrical retailer acquire Musicmagpie for 9.1p per share, a fraction of its market capitalisation at IPO in 2021. It floated with a share price of 193p. Bolton-headquartered AO sells white goods [...]
Electrical supplier AO World snaps up Musicmagpie in near-£10m deal October 2, 2024 London-listed online retailer Musicmagpie will be snapped up by AO World as the electrical supplier looks to enhance its presence in consumer tech.
Mike Ashley’s Frasers Group lowers stake in AO World July 8, 2024 Mike Ashley's retail empire Frasers Group has lowered its stake in white goods giant AO World.
Electrical supplier AO World sees profit skyrocket June 26, 2024 Shares in AO World have jumped after the white goods electrical supplier revealed its profit had surged during its latest financial year.
Currys and AO World to shed light on consumer demand for home upgrades June 21, 2024 Investors will get a glimpse into whether consumers are loosening their budgets and upgrading their homes when AO World and Currys report on their yearly profits.
AO World poised to reach top range of guidance as revenue grows March 28, 2024 Electrical retailer AO World expects profit for the year to be at the top range of its previously guided forecast.