- The electricals etailer’s UK sales were up 25% in its first quarter
- Ao.com’s European sales soared 101% during the period
- Chairman Richard Rose said the etailer’s full-year forecasts remain unchanged despite “recent economic uncertainty following Brexit”
Ao.com’s first-quarter UK and European sales rose as the etailer’s full-year forecasts remain unchanged despite “economic uncertainty”.
The electricals etailer reported a 25% rise in its UK sales from April 1 to June 30 bolstered by a 29% increase in sales of Ao’s own-brand products during the period.
The online retailer, which reported losses widening to £10.6m in its full-year results last month, attributed its strong first-quarter UK sales to “improving brand recognition” and said that the result of the EU referendum vote had not impacted its full-year outlook.
Ao’s chairman Richard Rose said: “We are mindful of recent economic uncertainty following Brexit and its potential effect on consumer confidence and foreign exchange exposure of our suppliers but, despite this, our expectations for the UK business, over the whole financial year, remain unchanged.”
The online retailer, which is planning to launch into the computers market, said that the progress of its European arm in its first quarter was “pleasing” as sales in Euros soared 101% over the period.
The roll-out of the electrical etailer’s Netherlands operations continued and is expected to be completed by the end of the second quarter.
Rose said: “Our expectations for the European business, over the whole financial year, remain in line with our previous guidance.”
Rose will step down as chairman after Ao’s AGM later today and will be replaced by former Card Factory chairman Geoff Cooper, as announced by the online retailer last month.