AO World Posts Narrower Full-Year Loss

AO World PLC posted a narrower loss for the year ended March 31. The company posted a pretax loss of 2.9 million pounds ($4.5 million) for the year, versus a year-ago loss of GBP7.6 million. Its total revenue rose 24 percent to GBP476.7 million. AO Website sales for the U.K. climbed 33 percent to GBP381.5 million. AO World Chief Executive John Roberts said, "Despite missing our financial expectations for the year, we have continued to take market share in the UK."