Last checked at 12 Jan 2015 07:00
AO World plc
12th January 2015
Quarter Three Trading Statement
Strong sales and continued delivery to plan
AO World plc, the UK's leading online retailer of major domestic appliances, announces strong sales for the third quarter and continued delivery against the plan set out at IPO.
AO website revenue for the three months to 31st December 2014 was up 38%, and total revenue (including third party retail and logistics) was up 26%. These figures exclude Germany, where we launched operations on October 1st.
Operationally we managed very well over the peak trading period, maintaining our industry-leading website response times, service levels and logistics performance, in spite of large spikes in volume, particularly on "Black Friday". As a result, customer satisfaction levels remained high, reflecting our market leading proposition.
Sales of audio visual categories, launched in May 2014, built well during the period and we were particularly pleased with performance in the run up to Christmas.
In Germany we are operationally ahead of plan and sales are building well, giving us confidence to explore wider marketing opportunities to drive growth.
The outlook for the full year remains in line with expectations.
John Roberts, Chief Executive Officer, said:
"AO World has made continued progress through the third quarter, delivering further strong trading in the UK while moving ahead both operationally and strategically. Our brand recognition continues to grow and over this key peak period, including the unprecedented demand seen on Black Friday, we continued to deliver for our customers. Our unbeatable prices, huge range and amazing service mean our customer satisfaction levels have remained exceptional.
I am delighted at the progress we are making in Germany where we launched six months ahead of schedule. We are already receiving great customer feedback, showing that our compelling offer translates well and giving us increased confidence in our ability to replicate our model in other overseas markets.
We remain confident of meeting full year expectations and are well positioned to continue to deliver for our customers and our investors."
A conference call for analysts will be held today, 12 January 2015, at 8.00am (GMT). For details and to register, please contact cguest@tulchangroup.com
For further information, please contact:
AO World plc +44(0) 1204 672400
John Roberts
Steve Caunce
Tulchan Communications +44(0) 20 7353 4200
Susanna Voyle
Michelle Clarke