AO World swings to £37m loss as costs skyrocket AO world Online electrical retailer AO World revealed it had swung to a £37m loss in the year to March as costs skyrocketed and pandemic-induced boom in sales dropped off.
AO World looks to raise £40m amid cash crunch fears AO World British electrical retailer AO World revealed it is looking to raise £40m today to shore up its balance sheet just days after its share price plunged amid fears over its cash reserves. It was revealed earlier this week that a third-party credit insurer serving some of the firm’s suppliers had slashed its cover in light [...]
AO World shares crash amid worries over electrics retailer’s financial strength after insurer cuts cover Not a good money Shares of online electricals retailer AO World are diving today amid worries over its financial strength after it was reported that a credit insurer has cut cover for the firm’s suppliers. The group saw shares fall by more than 18 per cent at one stage in morning trading today following the Sunday Times report revealing [...]
AO World shares dive 24 per cent amid driver shortage and supply chain problems November 23, 2021 Shares in AO World plunged this morning after the company swung to a loss of £11m, as a shortage of drivers and global supply chain issues stalled growth in the UK.
AO World bullish as UK sales surge 88 per cent and German business thrives April 15, 2021 Online electricals retailer AO World expects to deliver bumper profits over the year ahead despite the reopening of high street rivals as it revealed an 88 per cent surge in UK sales. The impressive performance over its final quarter helped group revenues jump by 62 per cent, to £1.66bn in the year to 31 March. [...]
AO World swings to profit as working from home boosts revenue more than 50 per cent November 24, 2020 Online electricals retailer AO World swung to profit in the six months to September, as a surge in domestic appliance sales during the pandemic helped revenue rocket more than 50 per cent. The company, which sells washing machines, fridges, TVs and laptops, said sales in the six months to 30 September jumped 53.2 per cent [...]
AO World shares jump as pandemic drives online sales surge October 15, 2020 Shares in AO World jumped this morning after the electronics retailer said sales had jumped by more than a half over the last six months. The white goods group said it expected revenue to hit £715m in the half-year to the end of September, up 57 per cent on the same period last year. Sales [...]
Retailer AO to create 650 new jobs due to ‘sustained’ surge in online shopping August 21, 2020 Online electricals store AO will create 650 new UK jobs as it ramps up growth plans following a sustained surge in demand due to the coronavirus pandemic. The firm said it is preparing for “significant growth” after it saw an influx of customers shopping online during the Covid-19 crisis. The new roles will bolster AO’s [...]
AO World closes loss-making operations in the Netherlands November 19, 2019 Online white goods retailer AO World has announced the closure of its business in the Netherlands, as the group reported an operating loss of £10.6m for the first half. Chief executive John Roberts said the closure of the retailer’s Dutch operations was part of its “relentless focus to accelerate profitability in Europe” and would allow [...]
AO World spends £15m on Brexit stockpiling as founder returns as CEO April 4, 2019 Electrical retailer AO World today warned investors it expects to take a £2.5m hit this year as it shakes up its management team in the wake of John Roberts’ return as chief executive. Read more: AO World’s chief executive departs with founder returning to the role The exceptional costs for the 12 months to the [...]