November 20, 2018 / 7:18 AM / a month ago

UK's AO World narrows first-half loss

LONDON, Nov 20 (Reuters) - British online electricals retailer AO World reported a narrowing in its first-half core earnings loss though the outcome was held back by a declining market for domestic appliances such as fridges and washing machines.

AO, which operates in the UK, Germany and the Netherlands, said on Tuesday it made an adjusted loss before interest, tax, depreciation and amortisation (EBITDA) of 5.4 million pounds ($6.9 million) in the six months to Sept. 30, versus a loss of 6.3 million pounds in the same period last year.

AO reiterated guidance it gave earlier this month when it announced the purchase of Mobile Phones Direct, that full year results will fall within the range of its expectations, albeit more second half weighted than previously anticipated. ($1 = 0.7783 pounds) (Reporting by James Davey; editing by Kate Holton)

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