UK's AO World rises on raising annual profit outlook
26/11/2024 08:40
** Shares of British online electrical retailer AO World
AO.L up 2.7% at 112.60p
** Co raises FY adj profit before tax forecast to 39-44 mln
pounds (~$49-$55 mln) from previous view of up to 41 mln pounds
** Richard Hunter, head of markets at Interactive Investor,
says AO World's decisions to streamline business and focus on
profit and cash generation are beginning to wash through
** Posts 30% jump in HY adj PBT to 17 mln pounds, with rev
rising to 514 mln pounds from 482 mln pounds
** AO CEO says well into peak trading and customers are
responding positively to Black Friday period deals
** As of last close, stock up ~12.5% YTD
(Reporting by Ankita Bora in Bengaluru)
((Ankita.Bora@thomsonreuters.com))