November 21, 2017 / 7:23 AM / a year ago

AO World posts first-half earnings loss after marketing drive

LONDON, Nov 21 (Reuters) - British online retailer AO World said the better sales momentum it saw in its second quarter was continuing as it heads towards the Christmas sales period, although increased spending on marketing resulted in a first-half earnings loss.

The company, which sells electrical appliances in British and mainland European markets, on Tuesday said revenue in the six months to end-September rose 13.3 percent to 368 million pounds ($487 million).

The group reported an adjusted core earnings loss of 6.3 million pounds, down from a 1.5 million pounds profit last year.

“We are broadly on track with our plans for the year as a whole - with the positive impact of improving sales growth through the first half of the year combined with the first half biased phasing of our marketing spend - in spite of the challenging UK market conditions,” said CEO Steve Caunce. ($1 = 0.7549 pounds) (Reporting by Paul Sandle; editing by Kate Holton)

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