AO upgrades profit guidance as it continues to deliver ‘profit and cash generation’
Electricals specialist AO has upgraded its full-year profit guidance after focusing on delivering “profit and cash generation”.
In the six months to September 30, AO recorded profit before tax of £13m compared to a loss of £12m in the same period last year, which the group said was helped by “removing unprofitable sales” and introducing delivery charges on all deliveries.
Adjusted EBITDA increased to £27m up from £9m last year, but revenue decreased 12% to £482m which the group said was “expected” as it annualises “the actions taken to remove non-core channels and unprofitable sales, and increase gross margins”.
Subscription content
Please sign in now if you have a subscription or are already registered with us.
Register for free to continue reading
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
- Two free article views per calendar month on Retail-Week.com
- Detailed analysis of current trends and events
- Exclusive newsletters
- In-depth reports, videos, interviews and much more
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few moments before your account is updated.
