Online electrical retailer AO World said it had seen record trading in the run-up to Christmas, with revenues in the 海角视频 growing by 67%.
The Bolton firm has released a trading update which outlined how 海角视频 revenue in the last three months of 2020 had risen to £457.3m. Growth was even higher in Germany, increasing 77.4% to €73.6m.
AO said it had benefited from a shift to online shopping during the pandemic, while the rise in the number of people working from home had increased the need for electrical goods and customer awareness of how important its products are.
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But it warned that the coronavirus pandemic was also having an effect on the firm, both in increased costs to make its workplaces Covid-secure, and in some hard-pressed customers cancelling long-term mobile contracts and warranties.
It also highlighted 'imbalances in supply and demand in some categories'.
Founder and chief executive John Roberts said: “I believe we've seen 10 years of change in 10 months, and experienced our strongest ever peak trading period.
"We backed ourselves by investing early in warehouses, vehicles, stock and people. This not only set us up to satisfy customer demand for electricals for the current crisis but also for the longer term, as the structural shift to online becomes a permanent feature of the market in the 海角视频 and Germany.
“One of our biggest achievements this period is to have our German business profitable throughout Q3. Our confidence in those investments has been rewarded by these exceptional levels of sales.
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“We've seen how the short-term costs translate into a fantastic opportunity to drive lifetime value for millions more customers. We're delighted to have earned their trust after their first purchase and their first experience of the AO Way.”
Mr Roberts said AO would now look to 'raise the bar' on its customer service levels, as well as focussing on the safety of its staff.
Commenting on the trading update, analysts Shore Capital said: "This is an upbeat trading update, which shows the continued momentum given both the structural shift online and the benefit as other brands physical electrical stores remain closed, as they are not deemed essential retailers during lockdown 2.0 and now lockdown 3.0.
"This is AO World’s moment to shine given that the online market has seen a structural shift thatcould be permanent by consumers.
"We note the outlook statement but also highlight both the increased Covid operating costs and infrastructure developments to further increase capacity. AO World has had a great run and clearly is another Covid winner and whilst the sales momentum continues, we also note the increased operating costs.
"The big challenge will be whether the revenue momentumcan continue during Q1 FY2022 given the tough comparatives that the business will start cycling."