31st Mar 2016 07:09
LONDON (Alliance News) - AO World PLC on Thursday said its UK business performed ahead of expectations in the fourth quarter of its financial year, while the European segment also performed well.
Shares in AO World were up 9.5% at 189.20 pence at the open on Thursday.
The online domestic appliances retailer said UK revenue and earnings before interest, tax, depreciation and amortisation in the fourth quarter ended March 31 grew ahead of expectations, and that it now expects full-year UK revenue to be up by 19% and UK adjusted Ebitda to reach GBP17 million.
Expectations for the UK business in the next financial year remain unchanged.
Meanwhile, AO World expects revenue in the European business to be within the current range of expectations, while full-year adjusted Ebitda will be slightly better than expected.
AO World will release its full-year results statement on June 8.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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