AO World shares up 12% on profit upgrade

[MongiIG]

AO World has upgraded its full-year earnings for the year ended March 2023. While the stock is off the highs, it has had a spectacular run since August last year.

 Jeremy Naylor | Writer, London | Publication date: Tuesday 10 January 2023

AO World increases profit expectations

There has been an update this morning from the white goods retailer, the online business AO World, which has increased its profit expectations for the current year.

Share price chart

Let's take a look at the share price chart, which really says it all.

On the right hand side here you can quite clearly see pushing this chart up now to a gain of 114.6% on from the lows we had back in August last year.

This move up today has been all about the release today, saying that whilst revenue continues to be in line, the company remains cautiously optimistic and mindful of continuing macroeconomic uncertainty and a tough consumer environment that is pervailing at the moment.

But this increase in profit guidance for the year through to March 2023 has been behind this latest lift in the company's share price.