Retailer AO World warns sales could be hit by EU vote

Online electrical goods retailer AO World yesterday gave warning that rising prices in the wake of the Brexit vote could hit customer demand.

AO World delivered a profit but warned rising prices could knock demand for domestic appliances. Picture: Jason Alden

The alert came came as the firm revealed it bounced back into the black following a 22.9 per cent rise in total revenues to £324.7 million for the six months to 30 September. Underlying profit rose to £1.5m, up from a £4.5m loss last year.

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Group chief executive John Roberts said: “AO has made a great start to the year, with group revenue and profits growing well as we continue to deliver on our long-term strategy. We have made progress in our mission to become the best electrical retailer in Europe.”

But the company said it was monitoring “the risks and uncertainties associated with Brexit and the potential impact these may have on the group’s result and financial position”.

It also said a subdued housing market could hit demand for domestic appliances.