19th Jul 2018 09:30
LONDON (Alliance News) - AO World PLC said Thursday revenue in the core UK market increased 8% in its financial first quarter, despite weaker consumer demand seen in June.
In a trading update ahead of its annual general meeting on Thursday, the electrical appliance retailer which is part of the FTSE 250 index, added that it is on track to deliver its long-term strategic plan.
In Europe, AO World said revenue increased 46% at constant currency and 49% on a reported basis in the recent quarter.
For the year ended March, the online retailer reported a sharply widened pretax loss of GBP13.5 million, compared with a pretax loss of GBP7.0 in the comparative year ago period. Annual revenue grew to GBP796.8 million from GBP701.2 million.
AO World said it will issue its half-year results to September 30 on November 20.
AO World shares were trading 2.2% higher at 147.60 pence each.
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