AO World warns of looming challenges despite Q1 growth

AO world

Ahead of its annual general meeting (AGM) today, AO World has revealed rising sales in its first quarter.

The online electricals retailer posted a 6.2 per cent rise in UK sales in the quarter to June 30.

Revenues from third-party websites and third-party logistics sales also rose by 2.5 per cent.

Despite a 58 per cent rise in European sales, the retailer warned of “challenging” trading.

READ MORE:  AO World sees revenues soar despite major operating losses

This follows last month‘s warnings of dwindling UK sales amid tightening consumer budgets.

“AO World remains on track with its long-term strategic plan and the board expects results for the full year to fall within the range of market expectations,” chairman Geoff Cooper said.

“Customer satisfaction continues to be exceptional in all of our territories and the roll-out of further categories across the UK and Europe continues.”

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