Shares of Bolton-based online electrical retailer AO World rose roughly 10% after it said its revenue for the year to March 31 is expected to be about £796 million, slightly above the mid-point of analysts’ expectations and up 14% year on year.

AO World said its group adjusted EBITDA loss is expected to be around the middle of analysts’ range.

Analysts on average currently expect AO World to report a loss in EBITDA (earnings before interest, tax, depreciation and amortisation) of £4.2 million, with a range between a £9.7 million loss and £1.4 million profit, according to a company-compiled consensus.

“Overall UK revenue for the year to 31 March 2018 is expected to be c. £680m, up 8% year on year with revenue from AO.com of c. £606m up c.9% year on year.

“Growth in Q4 was achieved in what remains a competitive market with limited advertising spend.

“When compared to this period in the previous year we have undertaken relatively less promotional activity which has supported gross margin.”

On its Europe performance, AO World said: “We achieved revenue growth of c.55% for the year in local currency and our European operations are on trajectory to achieve our targets in these existing territories in FY21.

“As a result of our strong momentum we have now reached an inflection point in the financial performance in these existing Europe operations and expect to see further progress as we move forward.”