AO World reports 186% rise in adjusted pre-tax profits to £34.3m, despite 9% drop in sales to £1.04bn.
AO World reported a 186% rise in adjusted pre-tax profits to £34.3m for the year to March 31, despite a 9% drop in sales to £1.04bn. The online electricals retailer attributed the surge in profit to its plan to focus on profit and cash generation, which involved removing unprofitable sales and introducing delivery charges. AO World expects to deliver double-digit revenue growth in 2024-25 and sees underlying pre-tax profits rising to between £36m and £41m.
June 26, 2024
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