AO sees substantial UK revenue growth

Online electrical retailer, AO World, has reported it is expected half year profit to rise by 57 per cent thanks to strong demand in UK and Germany.

In a market trading update today (Thursday), the company said that UK revenue rose 54 per cent in the six months to 30 September.

“The sales momentum continued from Q1 throughout Q2 despite the reopening of competitor bricks and mortar stores,” the report stated, pointing to the ongoing COVID-19 pandemic and the shift of consumers heading online to do their shopping during the lockdown period earlier this year.

The retail giant added: “We believe we have seen a lasting step change in online penetration.”

AO Founder and Group Chief Executive, John Roberts, commented: “The last six months of trading have been like no other during my two decades in the business. AO was in good shape coming into this financial year and the global, structural shift in customer behaviour to online, accelerated by COVID, emphasised our strengths.

“Whilst we remain mindful of the uncertain economic climate caused by the pandemic and Brexit, we are on track with plans and well set for our biggest ever peak trading period in the UK and Germany.”

Mr Roberts thanked all his staff for their hard work over recent months, helping to overcome the challenges the business faced during this time. “Our mums would be proud,” he said.