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...