Frasers Group has raised its stake in online electricals retailer AO World to 25.01%, up from 24.02%, according to a recent regulatory filing.

This move strengthens the Sports Direct owner’s position as the second-largest shareholder in the business, following the retailer’s positive trading update this week.

AO World raised its full-year profit forecast, with adjusted pre-tax profits expected to be between £39m and £44m for the year ending March 31, 2025