21st Sep 2015 06:35
LONDON (Alliance News) - Online electrical appliances retailer AO World PLC on Monday said its UK business has continued to grow in the second quarter and said revenue from its German business is in line with its expectations.
The FTSE 250-listed company said it expects revenue for the second quarter to the end of September to be up by around 20% to 21% year-on-year, driven by growth of around 30% from AO.com sales. The company said it has accelerated investment into the AO.com business in the quarter.
The group added progress in Germany has been in line with its expectations and it has also been investing in marketing campaigns in the country, which it expects to be incorporated into its business model going forward.
AO World also said its long-term strategic plans are on track.
By Sam Unsted; [email protected]; @SamUAtAlliance
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