AO World has hailed a record performance after its profits surged nearly 30% driven by cost-saving initiatives and strong growth of its membership scheme.
Adjusted pre-tax profits for the electricals specialist rose 27% to £44m for the year to 31 March, coming in at the top end of its £39m to £44m guidance.
This was driven by a 9% increase in group sales to £1.13bn and several cost-saving efficiencies, including the introduction of a new third-party warehousing solution in its distribution centre.
AO benefited from returning customers, which accounted for over 60% of orders during the year. It expects this trend to improve over time.
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Media world financial results
The chain closed the fiscal year with revenues of 2.4 billion euros (2.5 in 2023) and a growing market share
MediaWorld, in the 2024 fiscal year (ended September 30, 2024), recorded a turnover in line with forecasts of 2.4 billion euros almost entirely generated by B2C sales, 2023 closed with a turnover of 2.5 billion euros. Going into detail, in the face of an overall market that saw a contraction in sales that stood at -3.6%, MediaWorld slightly increased its market share (+0.2%) on the physical channel. Considering the calendar year, furthermore, an even more significant performance is appreciated, with a share increasing by over half a point. As regards online sales, in the face of an Italian direct technological e-commerce market that marked a decrease, MediaWorld reversed the trend by closing the year in the green.
Unieuro recovers profitability
Unieuro closes its third quarter of 2023 demonstrating that it is able to recover profitability even in the face of an uninspiring sales trend. The adjusted Ebit for the autumn was 11 million with an annual growth of 31.5% showing, as a company note, “a significant acceleration compared to previous quarters, thanks to the careful margin management policy and the significant cost rationalization plan aimed at preserving profitability”.
Sales in the third quarter were in fact down 11% compared to the same period of the previous year. The week of Black Friday and the weeks preceding it were down, resulting in a November, they did not “restore the current year trend of the consumer technology market”.
In the first 9 months, revenues and profits slightly decreased
In the first nine months of the 2023/2024 financial year, Unieuro achieved revenues of 1.9 billion euros, with a decrease of 6% compared to the previous financial year (2 billion). In the third quarter of 2023/24 revenues were 727 million, down 7.8% compared to 788.5 million in the previous year
Unieuro S.p.A. is the largest Italian retailer of consumer electronics and household appliances by number of outlets, with a network of 460 stores throughout Italy
Currys is set to sell its Greek and Cypriot business for
Currys is set to sell its Greek and Cypriot business for £175m as it looks to focus on its largest markets including the UK and Ireland.
The disposal follows a strategic review of the business back in June and is designed to simplify the group.
Alongside the UK & Ireland, the electricals retailer will also focus on its Nordic arm.
The sale is expected to be made in the first quarter of 2024
Inieuro financial
Unieuro S.p.A. is the largest Italian retailer of consumer electronics and household appliances by number of outlets, with a network of 460 stores throughout Italy.Unieuro closed the first quarter of the 2023/24 financial year (i.e. the months of March, April and May) with revenues of €589.3 million: 3.7% less than in the corresponding period last year. The figure, the company points out, is in any case better than the market trend which contracted by 4.6% in the same period.
AO.com most trusted retailer
AO.com is the UK’s most trusted major electricals retailer
Recently AO.com passed the incredible milestone of 400,000 reviews on Trustpilot, and we are delighted that so many of these reviews are four and five stars – 93% to be exact
It means that when it comes to major UK electricals retailers, AO.com has the largest volume of ⭐⭐⭐⭐⭐ reviews – with more than Currys, Argos and John Lewis combine
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