Business
3rd Quarter Results
3rd Quarter Results.
About this update from Ao World Plc
[{"type":"text","content":"\n \nRNS Number : 5319B AO World plc 11 January 2018 \n\n11 January 2018\nAO WORLD PLC\nQ3 TRADING UPDATE\nAO on track as it delivers continued revenue growth\nAO World plc (\"the Group\" or \"AO\"), a leading European online electrical retailer, today gives a trading update for its third quarter; the three months to 31 December 2017.\n- Our UK business continued to grow: overall UK revenue increased by 11.4% and ao.com revenue increased by 11.2% year on year.1\n- Revenue in our Europe business has continued to grow strongly - up 58.4% year on year, on a constant currency basis (up 62.0% in GBP).\n- Overall Group Revenue was up 16.6% for the quarter, year on year.\n- We expect the Group's performance for the full year to fall within the range of analysts' expectations but remain cautious given the uncertain UK economic outlook.\nSteve Caunce, CEO, said:\n\"We have performed well over our peak period delivering further sales growth across all our territories and are on track with our long-term strategy. \nWe are particularly pleased with the double digit sales growth in our UK business, which has been achieved against a fiercely competitive environment and normalised marketing expenditure. Our customers in the UK benefitted from our Black Friday deals this year over a two week period enabling us to manage demand more effectively and deliver an even better experience for customers. We are encouraged by the sales growth in our newer categories and we have continued to deliver excellent customer service throughout the period across the business. 2\nOur Europe operations are progressing in line with our plans and we are pleased with the strong growth achieved, given the limited above the line marketing expenditure. Our brand is attracting both new and repeat customers in mainland Europe and customer satisfaction remains high. 2\nLooking ahead, although we need to be mindful of the uncertain economic outlook (particularly in the UK), as long as we are relentless in our focus on making things easy for our customers, we can be confident that they will continue to choose the AO Way.\"\nFor further information, please contact: \n\n\n\n\nAO World plc \nMark Higgins\n\n\nTel: +44(0...