AO World (LON: AO) has shared financial results for the six months ended 30 September 2020.
The group reported total revenue for the period increasing 53.2% to £717m – up from £468m a year earlier.
The group also posted a rise in pre-tax profits. In the same period a year earlier, the group went from a loss of £5.9m to £18.3m.
John Roberts, AO Founder and Chief Executive Officer, said: “This has been a half year like no other. I believe our market has changed as a result, forever. Online is now the dominant retail channel for customers and manufacturers alike and I am delighted by how our AOers have risen to the challenge of this structural shift in behaviour.
“We have grown share across all categories and the results we’re announcing today give huge confidence that our business is well set for the future to cement the changes. Our growth rates have increased from Q2 to Q3 as we unlock capacity constraints.
“We have taken huge strides forward on our commitment to fix all the fundamentals of our European business and we now have a profitable platform from which to accelerate our growth in Germany and beyond.”
AO World shares (LON: AO) are trading -6.79% at 391,00 (1013GMT).