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AO World full-year revenue up on strong online sales
June 6, 2017 / 6:40 AM / 3 months ago

AO World full-year revenue up on strong online sales

June 6 (Reuters) - British online retailer AO World reported a 17 percent rise in full-year revenue on Tuesday, driven by strong sales in the UK and Europe through its website.

AO World, which sells everything from washing machines and fridges to vacuum cleaners and TVs, said revenue for the year ended March 31 rose to 701.2 million pounds ($907.98 million) from 599.2 million pounds a year earlier.

Website sale in the UK rose 14.5 percent to 557.9 million, pushing total UK revenue up by 12.7 percent.

However, the company warned that it expects the first-quarter growth rate in the UK to slow significantly, citing a challenging trading environment in the UK and strong comparatives from a year ago. ($1 = 0.7723 pounds) (Reporting by Rahul B in Bengaluru, editing by Louise Heavens)

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