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The Latest Breaking News from AO World

AO World boss warns over price increases to offset £8m Budget blow

The retailer estimates its wages bill will go up by £4 million due to the rise in NICs and another £4 million because of the minimum wage increase.

Evening Standard

UK prices for car repairs and electrical goods expected to rise due to budget

Halfords and AO.com say increases in employer national insurance will add to their costs

The Guardian - UK

Starling Bank fined £29m for ‘shockingly lax’ sanctions breaches – as it happened

Live coverage of business, economics and financial markets as bank gave accounts to 49,000 high-risk customers and oil prices rise after Iranian missile attacks on Israel

The Guardian - UK

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TV sales for Euro 2024 help triple profits at retailer AO World

Annual pre-tax profits climbed 186% to £34.3m, lifted by television upgrades and tumble dryers

The Guardian - UK

FTSE 100 Live 26 June: Blue-chips finish lower, AO World profits surge, Phoenix mulls SunLife sale

AO World’s big jump in profits and the possible sale of SunLife are among today’s City developments.

Evening Standard

Sales slide at AO World as consumers put off buying latest mobile phones

Online electrical goods seller still able to report pre-tax profits of £13m in the half year as cost-cutting measures bear fruit

The Guardian - UK

Fridge magnate: John Roberts, the man who founded AO World ‘for a bet’

The boss who sells us appliances by the thousand is chilled about Mike Ashley’s stake in the company, but hot on recycling and the need for the rich to give back

The Guardian - UK

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AO World says inflationary pressures are easing, as it returns to profit

Electrical goods retailer reports pre-tax profits of £8m in year to end of March after big restructure

The Guardian - UK

Rail firms unveil plans for mass closure of England’s ticket offices to ‘modernise’ railway – as it happened

Plans will ramp up battle with unions; boss of water watchdog says higher water bills are coming to fund infrastructure improvements

The Guardian - UK

AO World swings back to black but sees discretionary spend fall

Shoppers are cutting back spending on non-essential home projects such as new kitchens, the boss of white goods retailer AO World said as it emerged a host of factors have dented sales.

Evening Standard

Mike Ashley stretches the edges of Frasers’ ‘ecosystem’ with AO World stake

Strategically questionable 18.9% stake in the white goods seller suggests the Sports Direct founder still can’t resist a punt

The Guardian - UK

Mike Ashley’s Frasers Group takes 19% stake in AO World

Move to buy £75m of shares in UK’s biggest seller of large domestic appliances

The Guardian - UK

John Roberts net worth | Evening Standard Tech Rich List

Like many successful businesspeople, Roberts did not make the grade at school and failed his A-levels in mathematics, geography, and economics.

Evening Standard

AO World says consumer market doing better than expected

Electricals retailer says cost-cutting efforts are seeing 'positive traction'

Birmingham Post

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Evening Standard

FTSE 100 Live: ‘Storm clouds on the horizon’, JPMorgan boss warns; shares close up 0.4%

Blue-chip shares have continued their recent progress after the FTSE 100 index posted its fourth successive weekly gain on Friday.

Evening Standard

FTSE 100 Live: Ocado posts big loss, AO World upgrades earnings guidance

Education publisher Pearson today said it beat expectations in 2022 after an 11% rise in underlying operating profits to £456 million.

The Independent UK

AO World ‘cautiously optimistic’ as cost-cutting boosts profits

The online electricals retailer upgraded its profit guidance despite another decline in sales for the latest quarter.

Evening Standard

FTSE 100 Live: Virgin Orbit shares tank, Amazon to shut UK warehouses

Profits at JD Sports Fashion and Sainsbury’s are set to be near the top end of expectations after the retail pair delivered robust trading updates today.

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The Guardian - UK

UK retailer AO World reports bigger losses amid living costs crisis

Online electrical store is cutting costs but faces ‘tough environment’ and supply chain problems

Wales Online

AO reports losses of £12million due to cost of living and supply problems

Revenues have fallen 17%

Birmingham Post

AO World slides to loss over higher labour costs and cost-of-living pressure

The white goods firm posted a £37 million pre-tax loss for the year to March 31, falling from a £20 million profit in the previous year.

Evening Standard

AO crashes as City frets over cash flow rumours

Market report: FTSE up smartly on rare good day for stocks

The Guardian - UK

Boots is up for sale to the highest bidder, but where are they all?

UK retailer offers revamped stores and big online presence, but potential buyers see tired shops and threat of beauty rivals

Evening Standard

AO World crashes as cost of living crisis prompts warning on profits

AO said it could face a ‘material’ hit to profits this year as it delivered lower than expected profits and sales for the 12 months just ended

Evening Standard

AO World set for European retreat with ‘strategic review’ of German business

AO World launched in Germany in 2014 but has struggled to make it work. Analysts say a retreat is now likely, following an exit from its Dutch business in 2019

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Mike Ashley Frasers Group

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