AO narrows losses amid 'renewed' strategic mindset

AO_John_Roberts__1_ has narrowed its full-year losses off the back of strong sales growth across its UK and European markets.

The online electricals business booked an adjusted EBITDA loss of £400,000 in the year to March 31, down from £3.4m the previous year.

The group’s operating loss also narrowed to £15.2m from £16.2m in 2017/18.

AO attributed the improvement in its bottom line to growth in its core UK market, where adjusted EBITDA spiked 20.9% to £27.4m, buoyed by the acquisition of Mobile Phones Direct (MPD).

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