AO hails ‘solid’ progress despite widening losses
AO has hailed “solid progress” in its plan to focus on profitability over growth, despite suffering widening half-year losses.
The online electricals business posted a statutory pre-tax loss of £12m during the six months to September 30, up from £4m during the same period a year ago. Its operating loss trebled to £9m.
AO remained in the black on an adjusted EBITDA basis although that slipped 11% to £9m.
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