The online group has reported an operating loss of £10.6 million in the year to March 31 which was a result of its investment and start-up costs establishing operations in Germany and the Netherlands. AO’s pre-tax losses have also widened from £2.9 million to £6.7 million on revenue that increased by 25.7 per cent to £599.2 million as its growth in the UK continued and its German business “gained traction with customers”. Total revenues at AO World increased by 25 per cent to £599.2 million in the year to March 31 PA:Press AssociationAO, the seller of washing machines and fridges, has reported a full-year loss but said it was still on track to “becoming the best electrical retailer in Europe”.

Source: The Times June 08, 2016 07:52 UTC