AO World joined a number of UK retail companies releasing reasonably positive trading updates ahead of the Easter weekend.
The group said revenues for FY2024 would be £1.04bn – roughly 10% lower than 2023 but in line with the group’s guidance provided in late 2023.
AO World said it saw adjusted profit before tax at the top end of the previously guided £28-£33m range.
“I’m pleased with the clear progress that we’re making after pivoting our focus to profit and cash generation during the 2023 financial year. As we expected at our half year results, we returned to revenue growth in our core business during Q4 and, as a result, we’re entering the new financial year with good momentum,” said John Roberts, CEO and Founder of AO World.
“With net funds on our balance sheet and a clear plan, we remain confident in our ability to deliver on our ambition for 10-20% revenue growth in the year ahead and medium-term profit guidance of 5% adjusted PBT margin.”