AO.com has returned to revenue growth during Q4. Credit: Wirestock Creators via Shutterstock.com.

UK-based electrical retailer AO World has released a pre-close trading update for the 12 months leading up to 31 March 2024 (FY24). 

The retailer expects its adjusted profit before tax (PBT) to be at least at the top of the previously guided range of £28m-£33m ($35m-$41m). 

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

This comes as the retailer’s core business maintained a positive trajectory through the fourth quarter (Q4), and its online platform, AO.com, experienced a return to revenue growth during this quarter.  

The company has seen a revenue increase, with estimates for the full year reaching approximately £1.04bn. 

As the financial year concludes, AO World projects to have net funds exceeding £30m on a pre-IFRS16 basis.  

See Also:

In addition, the retailer successfully extended its £80m revolving credit facility with existing lenders until April 2027, maintaining the same terms. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

AO World CEO and founder John Roberts said: “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.  

“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.” 

In its FY24 first half result released last November, AO reported a PBT of £13m ($16.23m).