LONDON, July 5 (Reuters) - AO World, the British online electricals retailer that last month forged a strategic alliance with Mike Ashley's Frasers, said profit recovered in its 2022-23 year as it benefited from a plan to reduce costs and improve margins.
The group, which sells products such as cookers, fridges and washing machines, said on Wednesday it made adjusted core earnings, or EBITDA, of 45 million pounds ($57.2 million) in the year to March 31, in line with guidance and up from 23 million pounds in 2021-22. Revenue fell 17% to 1.14 billion pounds. ($1 = 0.7870 pounds) (Reporting by James Davey; editing by William James)