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Britain’s AO World Swings To Profit As Pandemic Spurs Electricals Demand

LONDON (Reuters) – British online electricals retailer AO World on Tuesday reported a 53% jump in first half revenue and swung into profit as consumers bought more domestic appliances to help get them through the COVID-19 pandemic.

The group, which sells washing machines, fridges, cookers and televisions as well as mobile phones and printers, said revenue was 717 million pounds ($956.7 million) in the six months to Sept. 30, up from 468 million pounds in the same period last year.

Pretax profit was 18.3 million pounds versus a loss of 5.9 million pounds in the prior year period. Read more…..

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