AO World enjoys surge in online shopping
Electrical goods retailer AO World said it has benefited from a surge in online shopping, even as lockdown measures ease and high street stores reopen.
AO World's revenue in the year ended March 31 climbed 16 per cent to £1.05 billion from £902.5 million.
The retailer, which has a major recycling centre in Telford, reported a pre-tax profit of £1.5 million, swinging from a £20.2 million loss.
Although Covid-19 lockdowns were introduced shortly before its year-end, AO World still noted it made "significant market share gains".
AO added: "The products we sell are an essential part of people's lives and the electricals market migrated to nearly 100 per cent online overnight.
"While demand remains strong, the recent reopening of the high street means that customers now have more options to purchase their appliances offline from stores. Although customers are able to return to bricks and mortar stores, initial data shows that since stores have reopened the online market has in fact continued to grow year-on-year."
