AO World H1 revenues surge 57%
Online retailer AO World has reported a 57% increase in revenues for the six month period ending 30 September 2020.
In an interim trading update AO World said it expects group revenue for the period to be £715m. It also revealed that UK revenue increased by 54% and in Germany revenue grew by 83% on a constant currency basis.
The results come after it said it believes there has been a “ lasting step change in online penetration”.
AO founder and group chief executive, John Roberts, said: “The last six months of trading have been like no other during my two decades in the business. AO was in good shape coming into this financial year and the global, structural shift in customer behaviour to online, accelerated by Covid, emphasised our strengths.
“The progress that we’ve made in Germany gives us the platform and confidence to grow. We remain excited by the opportunities ahead and ambitious to realise them.”
He added: “I would like to thank all AOers and our delivery partners right across the business who have worked safely and tirelessly both to provide exceptional service to our customers when they needed us most and to overcome the operational challenges of recent months. I can definitely say our mums would be proud of what the AO team is achieving.
“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.”
