- Full year UK revenue growth to be circa 18.5%
- UK adjusted EBITDA to be circa £17m
- No change to expectations for next financial year
Electricals etailer Ao.com has reported a better-than-anticipated fourth-quarter performance, with revenue and earnings ahead of expectations.
Ao.com’s financial year ends today and in a pre-close update the company said its core UK business had won market share and that revenue and earnings both came in ahead of management expectations in the final quarter.
Ao.com reported: “We expect full-year UK revenue growth to be circa 18.5% with revenue growth from Ao.com to be circa 27% and UK adjusted EBITDA to be circa £17m.”
However the etailer said its expectations for the UK business in the next financial year are unchanged.
Ao launched in the Netherlands at the start of March, building on its fledgling European business in Germany and leveraging its infrastructure in the latter country.
The retailer said: “We expect revenue in our European segment to be within the current range of expectations.
“Our European adjusted EBITDA for the full year will be slightly better than expected due to our focus on driving efficiencies.
“We expect such focus to continue until we move into our new regional distribution centre in Bergheim in Germany later in the year, when we will look to accelerate volume growth.”
Ao will issue full-year results on June 8.
The retailer, founded by entrepreneur John Roberts, has had a roller-coaster share price ride since floating in 2014.