Online electrical retailer AO World has announced that it expects revenues to hit £796m, representing a 14% increase on the previous year.
The previous year, the company made a loss of £12m.
In a trading update for the 12 months to 31 March 2018, the company said that its growth in the fourth quarter came against the backdrop of a competitive market.
The company also said that it had spent less on advertising which has helped support its gross margin.
It expects growth of 55% in its European operations and said that it is “on trajectory” to achieve its targets by 2021.
AO launched in Germany in October 2014 and in the Netherlands in February 2016.
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