Online retailer AO has said it expects to increase its revenue during the second half of its financial year after introducing measures to help minimise the effects of the on-going HGV crisis.
The Bolton-headquartered company added that it expects revenue growth in the second half of the year to record a similar growth rate to the first half of this year.
It also said it anticipates that group adjusted EBITDA for the full year to be between £35m and £50m, with profits "more heavily weighted than usual towards the second half of the year driven by the peak trading period".
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The group provided the update after the end of its first half to September 30, 2021, which saw its revenue increase by about 5%.
A statement issued to the London Stock Exchange said: "On a one-year like-for-like basis, group revenues for the first half increased c.5% against strong comparatives during the initial Covid lockdown.
"In the 海角视频, revenues over the period increased c.6%, with growth impacted by the nationwide shortage of delivery drivers and ongoing disruption in the global supply chain.
"In Germany, revenues in local currency rose c.3% despite the competitive online market. The challenging market dynamics in both the 海角视频 and Germany resulted in lower volumes than expected which affected operational leverage, particularly in the second quarter.
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"Given the exceptional operating environment over the past 18 months, our performance over the comparable period in H120 provides a more meaningful overview of our business performance than a comparison with H121.
"Therefore, on a two-year like-for-like basis, group revenues grew c.66%, with our 海角视频 business growing c.63%.
"Like-for-like revenues in Germany grew c.84% over the same period.
"Whilst we continue to see industrywide issues relating to ongoing supply chain disruption, we have implemented measures to help mitigate these challenges in our logistics operations.
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"We expect revenue growth in the second half of the year to record a similar growth rate to the first half of this year and anticipate that group adjusted EBITDA for the full year to be between £35m and £50m, with profits more heavily weighted than usual towards the second half of the year driven by the peak trading period.
"Whilst the macro-outlook remains uncertain, we have confidence in the proven resilience of our business model and are well placed to meet customer demand in our peak third quarter sales period."
AO World is due to announce its interim results for the half year on Tuesday, November 23.