(Reuters) – British electronics retailer AO World raised the lower end of its adjusted pre-tax profit range for fiscal 2026 on Monday, as robust demand for essential household appliances boosted sales.
The retailer also said it will initiate its first-ever share buyback programme, planning to repurchase up to 10 million pounds of ordinary shares.
Amid sticky inflation, AO World’s discounted prices on products via its membership program have helped it retain customers and attract new ones, boosting performance in its customer-facing business.
The retailer, which sells appliances ranging from tumble driers to TVs, said it expects its business-to-consumer retail revenue to rise 11% and group revenue to be up 13% in the first half of the year.
AO World now expects pre-tax profit for the year ending March 2026 to be between 45 million pounds and 50 million pounds ($61.02 million and $67.81 million), from its prior forecast range of between 40 million and 50 million pounds.
($1 = 0.7374 pounds)
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Rashmi Aich and Janane Venkatraman)
