AO swings into the red as sales fall and it braces for further ‘volatility’
AO has reported a full-year loss in its delayed results as boss John Roberts says the etailer fights “through one of the most challenging operating environments we’ve weathered as a company”.
AO has recorded a pre-tax loss of £37m in the year to March 31, 2022, in comparison with a pre-tax profit of £20m the previous year.
The online retailer reported group adjusted EBITDA of £8.5m during the financial period, down 87% year on year, which it attributed to increased staff costs added during the Covid pandemic, as well as increased marketing and logistics costs.
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