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AO World continues to gain market share

By BFN News | 07:46 AM | Thursday 31 March, 2016


AO World says its UK business performed strongly during the fourth quarter with revenue and EBITDA ahead of expectations as it continued to gain market share. The group expects full year UK revenue growth to be c.18.5% with revenue growth from AO.com to be c. 27% and UK adjusted EBITDA to be c. £17m. Expectations for the UK business in the next financial year remain unchanged. In Europe the group started trading in the Netherlands on 1 March, leveraging its German infrastructure. It expects revenue in its European segment to be within the current range of forecasts. It says European adjusted EBITDA for the full year will be slightly better than expected due to its focus on driving efficiencies. It adds: "We expect such focus to continue until we move in to our new regional distribution centre in Bergheim later in the year, when we will look to accelerate volume growth." Story provided by StockMarketWire.com

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