Today, Friday 26th June, we released our Annual Report for year ending 31st March 2026.
It was a year to be proud of with sales over 1.2 billion, profit over 50 million, market share growing, a balance sheet at its strongest ever and over a million Trustpilot reviews at 4.9 out of 5.
The business is now generating real cash, which gives us optionality to invest, to grow, and to return surplus capital.
The foundation of this is a flywheel that is working, accelerating, and compounding.
AO has meaningful moats including a membership model that is coming of age, a re-commerce business that is run rate profitable and full of potential and a market leading mobile proposition.
Geoff Cooper, Chair, said:
“FY26 was a standout year for AO, delivering record profit of £50.5m, strong cash generation and the Company’s first share buyback.”
John Roberts, CEO and Founder, said:
“AO has a long term focus. Our investment case is to create value through our flywheel that shares value with our members at scale, through structural cost advantages and an obsession with world-class service quality. In turn, the same customers give us a greater share of their electricals spend which further drives our growth and operational gearing. The benefits of scale, the brand value of being the most trusted electrical retailer and our high performance culture are meaningful moats around our business.”
Mark Higgins, CFO and COO, said:
“Adjusted PBT of £50.5m, up 16.1% on revenue growth of 11.4%, while moving from £35.9m net debt to £16.4m net funds.”
Read the full report here.