March 30, 2017 / 6:31 AM / 5 months ago

BRIEF-AO World tightens full year earnings guidance, cautious outlook

March 30 (Reuters) - Ao World Plc

* Full year trading for FY 2017 is expected to be in line with our range of expectations

* Group revenue expected to be c.£700m, up c.17% year-on-year

* Existing adjusted EBITDA guidance range is tightened to £-2.4 to £0m

* Group cash as at 31 March 2017 is expected to be at least £27m

* Board broadly expects patterns of trading seen in second half of FY 2017 to continue into year ahead

* Board continues to be cautious given uncertain UK economic outlook, currency impacts on supplier pricing and possible effect on consumer demand

* In our Europe business, we are on track to achieve a positive adjusted EBITDA run-rate and revenue run-rate of c.eur 250m by FY 2021

* We expect limited further capex to realise plans in existing territories

* Has today separately announced a placing of up to 9.99% of its share capital Source text for Eikon: Further company coverage: (London Newsroom)

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