Ao.com Operating profit before exceptional items was down from £8.4m to £8.2m, however, it incurred costs of £15.4m for its flotation earlier this year bringing it to a £7.2m operating loss.
Ao.com sales surged 40% to £384.9m in the year to March 31, driven by increased order volumes at “slightly higher” average order values to the previous year.
Ao.com added that the 2015 financial year has “started well with trading in line with our expectations in all respects”.
Ao.com chief executive John Roberts said: “I am delighted by the achievements the Ao team has delivered over the course of the last year and the progress we have made in positioning our business structurally and financially to realise the very exciting opportunity we have ahead of us.
“Our UK business continues to build strongly aided by a successful rebranding, introduction of same day delivery and entering the small domestic appliance and television markets.
“We are making great strides in preparing for our launch into Germany as the first step to becoming a leading European online electrical retailer.”
Ao.com’s capital expenditure for the year was £7.5m, up from £3.3m last year, as it invested in a new head office and its supply chain.
Gross margin increased to 19.3% from 18.5%.
The etailer said it benefited from introducing same-day delivery, extending the cut-off times for next-day delivery from 10pm to midnight, and the extension of services for cooking appliances to include gas and electrical installation.