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AO World performs better than expected in fourth quarter

AO World expects full-year revenue growth to be around 27%, as the retailer posts better than expected fourth quarter financial results.

AO World has said it performed strongly during its fourth quarter in a pre-close trading update for its year ending 31 March 2016.

Thanks to this strong end to its financial year, AO World is expecting full-year UK revenue to be around 18.5%, while adjusted UK EBITDA will be around £17 million. But the retailer said expectations for the UK business in the next financial year remain unchanged.

The domestic appliance e-tailer began trading in the Netherlands earlier this month by leveraging its German infrastructure.

"We expect revenue in our European segment to be within the current range of expectations," said AO World. "Our European adjusted EBITDA for the full year will be slightly better than expected due to our focus on driving efficiencies. We expect such focus to continue until we move in to our new regional distribution centre in Bergheim later in the year, when we will look to accelerate volume growth."

AO World's full-year trading statement will be on 8 June 2016.