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

AO WORLD PLC

(AO.)
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Online electrical retailer AO World posts profit, sales rise

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07/14/2020 | 04:37am EDT

Online electricals retailer AO World on Tuesday reported a jump of more than 50% in annual core profit and a rise in sales, sending shares in the British company to two-year highs.

Printers, breadmakers and Nintendo Switch video consoles were in demand, it said, even after British stores began to reopen.

"We haven't seen a material impact from stores reopening and of course, some stores will never reopen," CEO John Roberts told reporters.

Operational changes during the lockdown had raised staffing costs, however, and it warned that a fall in consumer confidence as recession sets in this year may lead to delayed purchases of big-ticket items.

AO sells washing machines, fridges, cookers, televisions as well as mobile phones.

Adjusted core earnings jumped by 53.6% to 19.6 million pounds ($24.57 million) on sales up 15.9% to 1.05 billion pounds for the year ended March 31, it said.

AO shares jumped as much as 7% to a two-year high at the market open but were flat by 0901 GMT.

Lockdowns have buoyed online shopping, prompting Morgan Stanley to nearly double its forecast for U.S. online sales growth to 25% this year.

The UK's Ocado said on Tuesday it was confident that the surge in online grocery shopping due to the pandemic would continue.

Online fashion retailers Zalando and Boohoo also expect to top market expectations for sales and profit.

AO, which launched in Germany in 2014, said it continues to expect to achieve positive core earnings there on revenue of around 250 million euros ($284 million) this year.

(Reporting by Tanishaa Nadkar in Bengaluru; editing by Devika Syamnath and Jason Neely)

By Tanishaa Nadkar

Stocks mentioned in the article
ChangeLast1st jan.
AO WORLD PLC 6.61% 363 Delayed Quote.301.99%
BOOHOO GROUP PLC 5.48% 279 Delayed Quote.-6.34%
MORGAN STANLEY 0.19% 51.87 Delayed Quote.1.47%
NINTENDO CO., LTD. -1.47% 55030 End-of-day quote.25.15%
ZALANDO SE -1.53% 82.56 Delayed Quote.82.74%
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All news about AO WORLD PLC
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Financials
Sales 2021 1 444 M 1 883 M 1 883 M
Net income 2021 - - -
Net cash 2021 27,9 M 36,3 M 36,3 M
P/E ratio 2021 -
Yield 2021 -
Capitalization 1 713 M 2 235 M 2 233 M
EV / Sales 2021 1,17x
EV / Sales 2022 1,09x
Nbr of Employees 3 000
Free-Float 56,8%
Chart AO WORLD PLC
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AO World plc Technical Analysis Chart | MarketScreener
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Technical analysis trends AO WORLD PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 5
Average target price 224,60 GBX
Last Close Price 363,00 GBX
Spread / Highest target -20,1%
Spread / Average Target -38,1%
Spread / Lowest Target -77,1%
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
Sector and Competitors
1st jan.Capitalization (M$)
AO WORLD PLC301.99%2 235
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MEITUAN DIANPING157.51%199 124
SHOPIFY INC.158.12%125 073
PINDUODUO INC.129.80%104 086
MERCADOLIBRE, INC.129.42%65 227