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Markets News

UK's AO World posts smaller loss on higher online demand amid lockdown

July 14 (Reuters) - British online electricals retailer AO World on Tuesday posted a smaller annual loss on stronger demand since the lockdown in March, as stay-at-home orders to curb the COVID-19 pandemic boosted online shopping.

AO, which sells washing machines, fridges, cookers, televisions and mobile phones, reported an operating loss of 3.8 million pounds ($4.77 million) for the year ended March 31, compared with a loss of 13 million pounds last year.

$1 = 0.7973 pounds Reporting by Tanishaa Nadkar in Bengaluru; Editing by Devika Syamnath

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