June 4, 2019 / 6:22 AM / 15 days ago

Britain's AO World earnings weighed down by Europe business

LONDON, June 4 (Reuters) - AO World, the British online electricals retailer, reported another loss in its key earnings measure, reflecting increased losses in its continental Europe division.

The seller of washing machines, fridges, cookers and televisions said on Tuesday it made an adjusted loss before interest, tax, depreciation and amortisation of 0.4 million pounds ($0.5 million) in the year to March 31 - in line with guidance issued in April and compared to a loss of 3.4 million pounds in 2017-18.

While core earnings in the UK improved 21% to 27.4 million pounds, losses in Europe increased to 31.3 million euros, reflecting less progress than expected on product margins and cost pressures from having to re-configure driver scheduling arrangements in Germany. ($1 = 0.7896 pounds) (Reporting by James Davey, Editing by Paul Sandle)

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