AO World, the online electricals retailer, has rounded off a strong year with total group revenue growth of around 11% for the 12 months to 31 March 2026, driven by market share gains across all key categories.
AO World have released a strong set of numbers that reinforces the momentum AO has been building despite a soggy economic backdrop.
The headline number is adjusted pre-tax profit landing at the top end of its previously upgraded £45-50 million guidance range, representing roughly 15% year-on-year growth. Notably, that profit growth outpaced sales despite what the company described as material cost headwinds, suggesting genuine operating leverage is coming through in the business.
B2C revenue grew approximately 9.5%, with AO continuing to take share across its core categories. Cash generation was a particular standout, with free cash flow jumping to around £65 million from £23 million in FY25, a near threefold increase that underlines the improving quality of earnings.
The group expects to close the period with roughly £200 million in liquidity, providing a comfortable buffer heading into FY27. On the cost front, AO has hedged approximately 80% of forecast fuel usage and all of its electricity for the full FY27 trading year, providing insulation from recent geopolitical disruption.
“The numbers speak for themselves again and I am delighted to keep doing our talking on the pitch,” said AO’s Founder and Chief Executive John Roberts.
“Our shared economics strategy and membership model, built on the foundations of brilliant retail basics, continues to deliver results. We continue to build momentum and all key metrics continue to improve, with an exciting pipeline of new initiatives ahead.
“In the coming weeks, AO will become the first company globally to reach one million Trustpilot reviews with a 4.9 rating from customers. Having founded AO 26 years ago in a small office with three people and a dream, I am incredibly proud to have reached this milestone, which is a testament to the entire team. To achieve that in a logistically difficult category highlights the structural advantage we have been building with world class quality at scale. This underpins our reputation as the UK’s most trusted electrical retailer and the value of it sits on our balance sheet at zero.”