AO World plc AGM and Trading Statement (0900V)
19 July 2018 - 4:00PM
UK Regulatory
TIDMAO.
RNS Number : 0900V
AO World plc
19 July 2018
AO World plc
AGM and Trading Statement
AO World plc ("AO World" or the "Company"), a leading European
online electrical retailer, is holding its Annual General Meeting
at 8am today, at which the following Trading Statement, for the
period 1 April 2018 to 30 June 2018, will be made:
"AO World is on track to deliver its long-term strategic plan
and the Board's expectations for the full year remain
unchanged.
Overall for the quarter we are pleased to report UK revenue
growth of 8.0% which reflects the strong start to the year, as
previously reported, and a slower performance in June in our core
markets impacted by weaker consumer demand(2) .
Our Europe business has performed in line with our plan during
the period, with continuing strong year-on-year revenue growth of
46.2% in constant currency (up 48.8% on a reported basis), and we
continue our strategy of limited traditional marketing as planned.
We remain confident in the delivery of the plan we set out at our
capital markets day in February 2017."
The Company's half year results for the six months ending 30
September 2018 will be announced on 20 November 2018.
AO World plc
Mark Higgins ir@ao.com
Tulchan Communications Tel: +44(0) 20 7353 4200
Catherine James ao@tulchangroup.com
Will Smith
(2) Source: Google data
About AO
AO World plc, headquartered in Bolton and listed on the London
Stock Exchange, is an online electrical retailer, with a clear
purpose: to have the happiest customers by relentlessly striving
for a better way.
We create value by providing electrical products and related
services to our customers, offering a huge range, a price-match
promise and market-leading customer service. We are now leveraging
our skills and expertise to develop existing competencies and
create new opportunities.
We sell major and small domestic appliances and consumer
electronics in the UK, Germany and the Netherlands and deliver them
via our in-house logistics business and carefully selected third
parties. We also provide ancillary services such as the
installation of new and collection of old products and offer
product protection plans and customer finance. AO also has a
majority equity stake in AO Recycling, a WEEE processing facility,
allowing AO to ensure its customers' waste is dealt with
responsibly in the UK.
Cautionary Statement
This announcement is based on information from unaudited
management accounts and contains certain forward-looking statements
with respect to the financial condition, results of operations, and
businesses of AO World plc. These statements and forecasts involve
risk, uncertainty and assumptions because they relate to events and
depend upon circumstances that will occur in the future. There are
a number of factors that could cause actual results or developments
to differ materially from those expressed or implied by these
forward-looking statements. These forward-looking statements are
made only as at the date of this announcement. Nothing in this
announcement should be construed as a profit forecast. Except as
required by law, AO World plc has no obligation to update the
forward-looking statements or to correct any inaccuracies
therein.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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