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The Latest Breaking News from AO World

AO World boss blames Labour job tax hike for move to offshore jobs overseas

John Roberts said the group was hiring staff in South Africa to cut staff costs and using AI in warehouses.

Evening Standard

AO World offshores sales and customer contact roles in face of soaring wage bill

Efforts to make savings helped it shrug off wider cost pressures to post a record annual profit haul of £50.5 million.

Evening Standard

AO World profits at ‘top end’ of guidance despite cost pressures

The white goods and electricals retailer told shareholders that total revenues are expected to have grown by around 11% over the year to March.

Evening Standard

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Music Magpie joins forces with Timpson to offer high street mobile trade-ins

It follows a four-month trial that has seen the service available in more than 1,300 Timpson stores across the UK.

Evening Standard

What Budget rumours are doing to the FTSE 100

Banking stocks had a lift amid rumours the sector will be spared a tax hit

The Independent UK

Stocks rise and pound climbs as Budget rumours swirl

Chancellor Rachel Reeves is due to deliver her statement to the Commons on Wednesday.

Evening Standard

B&Q firm Kingfisher lifts profit target despite ‘softer’ UK market

Shares in the group, which runs more than 1,800 stores globally, moved higher on Tuesday morning.

Evening Standard

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‘Madness’ to increase welfare spending in Budget, says AO World boss

Chief executive John Roberts urged the Chancellor to cut spending and ‘make some difficult decisions’.

The Independent UK

FTSE 100 red ahead of expected US rate cut

The index closed down 6.26 points, 0.1%, at 9,277.03.

The Independent UK

AO World boosts earnings outlook as sales jump

The firm now expects annual profits of between £45 million to £50 million, against previous guidance for between £40 million and £50 million.

Evening Standard

AO World looking to automation and offshoring in face of wage cost surge

The group is set for around an extra £8 million a year in costs from April’s higher national insurance contributions and minimum wage rise.

Evening Standard

AO World delivers record profits as sales jump higher

The electricals retailer reported a better-than-expected 32% rise in underlying pre-tax profits to £45 million for the year to March 31.

Evening Standard

AO World profits set to jump amid growth strategy progress

AO is on track to deliver another improved performance when the online retail group reports its annual results on Wednesday June 18.

Evening Standard

AO World set to see profits leap by nearly a third as sales jump

The online electricals retailer expects profits to rise by about 30% in 2024-25.

Evening Standard

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Evening Standard

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.

The Guardian - UK

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

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

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Evening Standard

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.

The Guardian - UK

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

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

Evening Standard

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.

The Guardian - UK

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

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