trending Market Intelligence /marketintelligence/en/news-insights/trending/E6E7WOMZLcRI0I4YjXKq6w2 content esgSubNav
In This List

AO World swings to loss in fiscal H2

Blog

Insight Weekly: PE firms shift strategies; bank earnings kick off; bankruptcies plummet

Blog

Bed, Bath, and Bankruptcy: Using Quantitative Credit Models to Predict Corporate Defaults

Blog

Insight Weekly: Stocks limp into 2023; GCC banks set for rebound; deep-sea mining faces pushback

Infographic

Infographic: The Big Picture 2023 Sustainability Outlook


AO World swings to loss in fiscal H2

AO World PLC said its normalized net income for the fiscal second half ended March 31 amounted to a loss of £3.1 million, compared with income of £3.6 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue increased 22.8% year over year to £259.6 million from £211.4 million, and total operating expenses increased 28.4% on an annual basis to £264.0 million from £205.5 million.

Reported net income totaled a loss of £3.0 million, or a loss of 1 pence per share, compared to a loss of £11.2 million, or a loss of 3 pence per share, in the prior-year period.

For the year, the company's normalized net income totaled £1.8 million, compared with income of £4.9 million in the prior year.

Full-year total revenue rose 23.8% from the prior-year period to £476.7 million from £384.9 million, and total operating expenses increased 27.1% on an annual basis to £478.9 million from £376.7 million.

The company said reported net income came to a loss of £2.5 million, or a loss of 1 pence per share, in the full year, compared with a loss of £9.6 million, or a loss of 2 pence per share, the prior year.