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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  AO World plc    AO.   GB00BJTNFH41

AO WORLD PLC

(AO.)
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AO World : Electricals seller Dixons exploring partial IPO of Nordics business

09/10/2020 | 04:58am EST

British retailer Dixons Carphone said on Thursday it was exploring listing a minority stake of its Nordics business next year, as the region has continued to see higher profits and market share even during the coronavirus crisis.

The company said online sales at the Nordic business jumped 49% in the 17 weeks to Aug. 29, and while the review is in early stages, the listing could further strengthen capital structure.

Shares in the FTSE 250 company were up 5.8% at 86.6 pence by 0846 GMT.

The owner of Currys, PC World and Carphone Warehouse said online sales more than tripled while stores were closed, with 14% like-for-like growth in its electricals business for the same period.

"We've started the year well, but nobody knows what the future holds and, like many, we remain cautious in our outlook," said Chief Executive Officer Alex Baldock.

Dixons said in April that online sales in the UK and Ireland for computers and home appliances, including refrigerators and breadmakers, had surged during the initial period of lockdown people began working from home.

Online electrical retailer AO World has also signalled continued growth in its sales.

"The quality and value within these international operations...have been overlooked by the market for some time," Liberum analyst Adam Tomlinson said, adding that exploring the partial IPO is a sensible move.

The company, which operates through 932 stores and 16 websites in eight countries, said revenue at its loss-making mobile business slumped 56% in UK and Ireland, hurt by customers changing their handsets less frequently.

"The decline in Mobile sales and transformation progress is in line with the plan...This is a standout update, highlighting just how undervalued we believe DC currently is," Tomlinson said.

(Reporting by Aby Jose Koilparambil and Tanishaa Nadkar in Bengaluru; Editing by Rashmi Aich and Kim Coghill)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AO WORLD PLC -1.40% 351.5 Delayed Quote.294.80%
DIXONS CARPHONE -1.12% 115 Delayed Quote.-19.35%
All news about AO WORLD PLC
11/24London stocks end at multi-month highs on vaccine optimism, commodity gains
RE
11/24AO WORLD : Anticipating Brexit disruption, AO World doubles warehouse capacity
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11/19AO WORLD PLC : half-yearly earnings release
10/15London stocks slump on further coronavirus lockdowns, Brexit uncertainty
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10/15AO WORLD : sales jump as pandemic boosts electricals demand
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09/10AO WORLD : Electricals seller Dixons exploring partial IPO of Nordics business
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09/03ASOS, AO World and Ocado winners as online sales surge during UK lockdown
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08/20LONDON STOCK EXCHANGE : FTSE 100 hit by economic worries, ex-dividend trades
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08/20UK retailer AO World's sales surge as demand continues after lockdown
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07/21AO WORLD : UK retailer AO World to reward all staff with incentive plan
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More news
Financials
Sales 2021 1 556 M 2 089 M 2 089 M
Net income 2021 - - -
Net cash 2021 65,4 M 87,8 M 87,8 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 1 659 M 2 234 M 2 227 M
EV / Sales 2021 1,02x
EV / Sales 2022 0,94x
Nbr of Employees 3 000
Free-Float 57,0%
Chart AO WORLD PLC
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Technical analysis trends AO WORLD PLC
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 337,60 GBX
Last Close Price 3,52 GBX
Spread / Highest target 14 978%
Spread / Average Target 9 505%
Spread / Lowest Target 2 261%
EPS Revisions
Managers
NameTitle
John Charles Roberts Chief Executive Officer & Executive Director
Geoffery Ian Cooper Non-Executive Chairman
Jonathan Mark Stephen Higgins Chief Financial Officer & Executive Director
Christopher John Hopkinson Non-Executive Director
Marisa-Luisa Cassoni Senior Independent Non-Executive Director
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