AO announces upgraded profit guidance for the fiscal year, buoyed by a resurgence in sales during the final quarter. The online electricals retailer anticipates full-year sales to reach £1.04bn, citing the return to revenue growth at AO.com in the fourth quarter as a contributing factor. Adjusted pre-tax profit for the 12-month period ending on March 31 is expected to exceed the previously guided range of £28m to £33m.
AO announces upgraded profit guidance for the fiscal year, buoyed by a resurgence in sales during the final quarter. The online electricals retailer anticipates full-year sales to reach £1.04bn, citing the return to revenue growth at AO.com in the fourth quarter as a contributing factor. Adjusted pre-tax profit for the 12-month period ending on March 31 is expected to exceed the previously guided range of £28m to £33m.
John Roberts, CEO of AO, expresses satisfaction with the company's progress, particularly in pivoting towards profit and cash generation in the 2023 financial year. The return to revenue growth in the core business during Q4 signals positive momentum for the upcoming fiscal year. With a solid financial position and a strategic roadmap in place, AO remains confident in achieving its revenue growth targets of 10% to 20% and medium-term profit margin guidance of 5% adjusted profit before tax.
In November, AO raised its full-year guidance following a significant improvement in financial performance, including a pre-tax profit of £13m for the six months ending on September 30. This turnaround underscores AO's successful execution of cost optimization strategies and the elimination of unprofitable sales.
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