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AO reaffirms guidance for annual profits close to £50m
(Sharecast News) - AO World confirmed on Friday it remained on track to meet full-year guidance despite "material" cost headwinds. Updating on year-end trading, the white goods retailer said total group revenue growth was expected to be around 11% in the 12 months to 31 March, with adjusted pre-tax profits slated to come in at the top end of its £45m to £50m range.
The FTSE 250 business said it was "demonstrating again that profits are growing quicker than sales, in the region of around 15% year-on-year adjusted profits before tax growth, despite material cost headwinds".
AO noted that it already had hedging arrangements in place ahead of the outbreak of war in the Middle East, which has sent global energy prices soaring. The arrangements cover around 80% of forecast fuel usage and 100% of electricity usage, which cover the full 2027 trading period.
Founder and chief executive John Roberts said: "The numbers speak for themselves and I am delighted to keep doing our talking on the pitch. We continue to build momentum and all key metrics continue to improve, with an exciting pipeline of new initiatives ahead."
AO is due to publish full-year numbers on 17 June.
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