AO.com full-year profits up by half as sales climb
AO.com recorded a strong increase in its full-year profits and sales, but chief executive John Roberts says the retailer “must cement that change” driven by online shopping habits amid the coronavirus pandemic.
AO.com’s full-year profits soared 54% to £19.6m to the year ending March 31, as more shoppers went online during lockdown.
The electricals retailer also posted a strong sales growth, up 16% to £1.04bn, as customers invested in fridges, freezers and home working equipment to prepare for the uncertainty ahead.
UK revenue grew 20% to £902m, while European revenue dropped 4.6% due to the closure of the retailer’s Dutch website.
Already have an account? Sign in here
