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LONDON (Reuters) – AO World, Britain's online electricity retailer, has announced another loss in its leading profitability indicator, reflecting increased losses in its Continental Europe division.
The seller of washing machines, refrigerators, stoves and televisions said Tuesday it recorded an adjusted loss before interest, taxes, depreciation and amortization of 0.4 million pounds sterling as of March 31 – in line with forecasts published in April and compared to a loss of 3.4 million pounds in 2017-18.
In the United Kingdom, core earnings rose 21% to 27.4 million pounds, while losses in Europe reached 31.3 million euros, reflecting lower than expected growth in earnings. margins on products and cost constraints related to the reconfiguration of the driver calendar in Germany.
(Report by James Davey, edited by Paul Sandle)
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