AO World Returns to Profitability After Cost-Cutting and Strategic Shift

AO World reported an annual profit of £7.6 million, compared to losses the previous year, aided by cost reductions and increased margins.
Revenue declined 17% to £1.14 billion due to cost-cutting measures and weak consumer confidence during the pandemic.
AO World is optimistic about returning to sales growth in the coming year and plans to strategically invest in the business.
AO World underwent major changes, including job cuts, office closures, and remote working implementations.
AO World's turnaround follows a £40 million fundraising and exiting its loss-making German operations.