Bolton based AO World has said that it expects its revenues to increase by around 12 per cent to £1.1 billion and its pre-tax profits to be at the “top end” of its guidance range of £39m to £44m.
The Ekectrical Goods retailer said in a trading statement this morning that following its successful acquisition of musicMagpie last December, The post-acquisition performance of musicMagpie is expected to contribute around £30m
John Roberts, AO’s CEO and Founder, commented:
“Our strong performance shows that our model is working. With a globally leading Trustpilot score of 4.9 from almost 750,000 reviews, and AO Five Star membership continuing to grow strongly, we’re cementing our position as the most trusted electrical retailer and are increasing our frequency and share of wallet with customers.
“AO is back to being a highly efficient growth machine; we are reaping the rewards from the execution of our strategy and 25 years of unwavering obsession with amazing customer service.
“We’re carrying good momentum into the new financial year and are pleased to be guiding to another year of double-digit revenue growth in our B2C Retail business, and for profits to keep growing faster than sales.”
