AO World confident on full year after strong Christmas quarter
LONDON (Reuters) - AO World, the British online domestic appliances retailer that joined the stock market last year, said it was on track to meet full year expectations after posting strong third quarter sales.
The firm said on Monday its website revenue for the three months to Dec. 31 was up 38 percent year-on-year, while total revenue, including third party retail and logistics, was up 26 percent.
AO said that operationally it coped well over the peak trading period despite large spikes in volume, particularly on "Black Friday" on Nov. 28.
The figures exclude Germany, where AO launched in October.
It said it was operationally ahead of plan in Germany, with sales building well.
"AO World has made continued progress through the third quarter, delivering further strong trading in the UK while moving ahead both operationally and strategically," said Chief Executive John Roberts.
"We remain confident of meeting full year expectations."
Shares in AO, which floated at 285 pence in February, closed Friday at 247.1 pence, valuing the business at 1.04 billion pounds ($1.58 billion).
(Reporting by James Davey; editing by Kate Holton)
