AO World (AO) Trading update summary

Financial performance

• Group revenue for H1 2027 expected to rise 5.5% year-on-year, with profit before tax up over 20% to approximately £21.5m.

• Liquidity headroom projected to exceed £200m after dividend and share buyback outflows.

• Full-year profit expectations remain unchanged due to planned investments and tougher H2 comparatives.

Strategic developments

• Completed acquisition of Jessops, a specialist photography retailer, funded from existing cash resources.

• Jessops' recommerce business, Camera Jungle, complements existing operations and strengthens circular economy credentials.

• Integration of Jessops expected to drive growth and operational efficiencies over the next 12 months.

Operational highlights

• Operational improvements in Mobile and musicMagpie businesses contributed to strong results.

• Over £29m in member discounts provided, supporting the shared economics model.

• Maintained a Trustpilot score of 4.9 out of 5 on over a million reviews.