AO WORLD plc AO. Group operating losses for the year to 31st March rose from £10.6m to £12m despite a 25% rise in UK operating profit, after further gains were made in market share and a 12.7% rise in UK revenue. The UK figures were quite pedestrian compared to Europe which in constant currency terms produced a 52% growth in revenue after a full years trading in the Netherlands. Total revenue for the year was up by 17%. UK growth rates are expected to slow significantly in the current year.
But never mind problems like that, jargon as is often the case in these circumstances, is called to the rescue. Thus the company will operate a different distribution model which can be “leveraged for future category roll out across territories” and its “customer service metrics remain exceptional.” Fine, if only they could stop those losses mounting as well.
GB Group GBG is proposing to increase its final dividend by 13% to 2.35p per share after profit before tax for the year to 31st March grew by 8.2% and basic earnings per share by 10.8%. Revenue for the year grew by 19.2% or by 12% on an organic basis.
WYG plc WYG After producing double digit revenue growth in the year to 31st March, WYG is proposing to increase its final dividend by 20%. Adjusted profit before tax rose by 17% but earnings per share fell to 3.3p from 4p in 2016 and on an unadjusted basis profit before tax was down from £2.2m to £1.6m. Growth in the second half slowed to 10% and the start to the current year has been affected by the general election which has caused the award of some contracts to be delayed. Overall the order book so far is flat.