AO World confirms annual growth of 40 per cent

10th Apr 2014 08:04

AO World, the on-line white goods retailer that floated in London in March, has issued a trading statement to reassure that its results would be in line with expectations. On Thursday AO, which is likely to be added into the FTSE 250 in the next index review, put out a statement that said unaudited revenue growth of approximately 40%.It said it expected adjusted EBITDA for the year ended March 31st to be in line with market forecasts. Shares in the company had a valuation of £1.2bn after its initial public offer was priced at 285p but frothed up to 378p in conditional dealings before the company's shares were made generally available. Since then the share price has jagged down to 282.5p, with a sharp drop in US tech stocks on Wall Street last week sparking further falls in recent days. The company will announce its audited results June 5th.OH