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
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Frasers Group rolls out credit and loyalty offer to Marks Electrical
The partnership means that customers shopping at the online electrical brand will have access to Frasers Plus’ buy now pay later options.
The Sports Direct owner has been steadily expanding its financial services offer over the last 12 months, and offers its credit options to more than 20 retailers.
Currys & Frasers
Currys boss Alex Baldock has warned price increases are set to continue as the electricals retailer looks to safeguard its profit margin.Discussions about a possible tie-up with shareholder Frasers, which widened its stake in the business to 10.4% last week.“This is a potentially interesting partnership,” he said, “There are a number of avenues that we’re exploring.”
Frasers Group takes 19% stake in AO World
Frasers Group has taken an 18.9% stake in the online electricals retailer AO World in a £75m deal involving buying out shares held by Odey Asset Management
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