This update will probably be viewed with short term caution as UK sales growth has slowed in June and the benefit from the World Cup comes into question. Europe looks good to us and that is where the upside from future scalability will emanate to drive re-rating if that happens. Sales in 1Q were +8% in the UK and +46% ex currency in Europe. There may be a negative read-across into Dixons Carphone (DC LN, 182p, Hold, TP 185p).
19 Jul 2018
UK late period slowdown, Europe on-track
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
UK late period slowdown, Europe on-track
AO World Plc (AO:LON) | 103 -1.8 (-1.7%) | Mkt Cap: 593.6m
- Published:
19 Jul 2018 -
Author:
Tony Shiret -
Pages:
5
This update will probably be viewed with short term caution as UK sales growth has slowed in June and the benefit from the World Cup comes into question. Europe looks good to us and that is where the upside from future scalability will emanate to drive re-rating if that happens. Sales in 1Q were +8% in the UK and +46% ex currency in Europe. There may be a negative read-across into Dixons Carphone (DC LN, 182p, Hold, TP 185p).