Sunday, September 24, 2017

Modest Ao beats earnings expectations

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Ao.com posted above-par results for its final quarter this year.

The electronic appliance etailer beat expectations in Q4, earning greater market share, revenue and earnings than predicted by its management team.

“As a result, we expect full year UK revenue growth to be circa 18.5% with revenue growth from Ao.com to be circa 27% and UK adjusted EBITDA to be circa £17m,” Ao.com reported.

Despite this, the company’s official financial outlook for 2016 remains unaltered. Ao will release its full year financial results on 8 June.

“We expect revenue in our European segment to be within the current range of expectations,” Ao’s statement continued.

“Our European adjusted EBITDA for the full year will be slightly better than expected due to our focus on driving efficiencies.”

The quarter saw Ao branch out into the Netherlands whilst also leveraging and restructuring the less successful German arm of its business.

“We expect such focus to continue until we move in to our new regional distribution centre in Bergheim [Germany] later in the year, when we will look to accelerate volume growth.”

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