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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AO World plc    AO.   GB00BJTNFH41

AO WORLD PLC

(AO.)
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AO World : sales jump as pandemic boosts electricals demand

10/15/2020 | 03:21am EST

LONDON (Reuters) - British online electricals retailer AO World expects to report a 57% increase in first-half revenue on strong consumer demand during the COVID-19 pandemic, it said on Thursday, sending its shares higher.

With many Britons working from home during the crisis, sales of electrical goods and home office products have been high.

AO World, which sells washing machines, fridges, cookers and televisions as well as mobile phones and printers, said it expects to report revenue of 715 million pounds for the six months to Sept. 30.

UK revenue is expected to be up by about 54% while the increase in Germany is expected to be about 83% on a constant currency basis. The company reports interim results on Nov. 24.

"In our UK retail business, the sales momentum continued from Q1 throughout Q2 despite the reopening of competitor bricks and mortar stores. We believe we have seen a lasting step change in online penetration," AO World said.

It noted, however, a change in the behaviour of some mobile phone customers, with gross margins hit by increased cashback redemption rates and cancellation of contracts with networks.

AO World is profitable in the UK but loss-making in Germany, a market it entered in 2014. It forecast its German business would be profitable from its 2021-22 year.

"Whilst we remain mindful of the uncertain economic climate caused by the pandemic and Brexit, we are on track with plans and well set for our biggest ever peak trading period in the UK and Germany," founder and Chief Executive John Roberts said.

Shares in AO were up 8% at 0714 GMT, extending 2020 gains to 180% and valuing the business at 1.2 billion pounds.

(Reporting by James Davey; Editing by David Goodman)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AO WORLD PLC -9.89% 378 Delayed Quote.318.60%
EURO / BRITISH POUND (EUR/GBP) 0.07% 0.89104 Delayed Quote.5.09%
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More news
Financials
Sales 2021 1 479 M 1 976 M 1 976 M
Net income 2021 - - -
Net cash 2021 42,5 M 56,8 M 56,8 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 1 784 M 2 382 M 2 384 M
EV / Sales 2021 1,18x
EV / Sales 2022 1,09x
Nbr of Employees 3 000
Free-Float 56,9%
Chart AO WORLD PLC
Duration : Period :
AO World plc Technical Analysis Chart | AO. | GB00BJTNFH41 | MarketScreener
Technical analysis trends AO WORLD PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 314,60 GBX
Last Close Price 378,00 GBX
Spread / Highest target 40,2%
Spread / Average Target -16,8%
Spread / Lowest Target -78,0%
EPS Revisions
Managers
NameTitle
John Charles Roberts Chief Executive Officer & Executive Director
Geoffery Ian Cooper Non-Executive Chairman
Jonathan Mark Stephen Higgins Chief Financial Officer & Executive Director
Christopher John Hopkinson Non-Executive Director
Marisa-Luisa Cassoni Senior Independent Non-Executive Director
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