Online electricals retail giant AO has warned its future revenues are going to be cut further because of "volatile market conditions", inflation, supply chain challenges and the cost of living crisis.
The Bolton-headquartered company added it will focus on cash generation during its new financial year to "strengthen the balance sheet whilst optimising our cost base".
The news, revealed in a statement issued to the London Stock Exchange, saw AO's share price fall by more than 17% in early trading to 72p, its worst total since April 2020.
