European investment plunges AO World into the red

Bolton-headquartered online electrical retailer AO World has made significant losses as a result of its investment into European expansion in the face of “challenging UK market conditions”. The company made an adjusted EBITDA minus of £6.3m in the half year ended September 30, compared to a £1.5m in the same period last year. However, there was continued growth of revenue which went up 13.3% to £368m from £324.7m. Chief executive Steve Caunce said: “AO has made a good start to the year. We delivered further steady pro... For the full story register now for free or login below...
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