AO World increases earnings outlook as cost-cutting efforts pay off

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The group has its recycling centre in Telford and a distribution base in Stafford.

The group, which has its recycling centre in Telford and a distribution base in Stafford, said its profitability has seen a better-than-expected improvement as it drives cost savings thanks to a “resilient” customer base.It expects underlying earnings to be in the range of £37.5 million to £45 million for the full year, up from the £30 million to £40 million guided for last month.

AO World said: “The steps we have taken to simplify the business and become more efficient have outperformed expectations and been delivered quicker than expected.” AO World slumped to a £12 million loss in its first half, with shares hammered last year following a series of profit warnings as the cost crisis hit consumer spending on white goods, and due to labour shortages and supply chain disruption.

 

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