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Online electricals retailer AO World warned on profit as supply chain woes and rising costs to weigh on performance in the run-up to the key Christmas shopping period.
The all-important current peak trading period 'is significantly softer than we anticipated only eight weeks ago,' the company warned, citing rising shipping costs, material input prices and consumer price inflation.
'As a result, we now expect full year Group revenue to be flat to minus 5% year on year, with group Adjusted EBITDA in the range of £10m to £2 million.
The profit warning arrived even as the company swung to a first-half loss even as revenue grew.
For the six months ended 30 September, pre-tax losses were £10.4 million compared with a profit of £17.7 million year-on-year, while revenue was