From a 3-person office in Bolton to 1 million reviews: The UK tech CEO smashing expectations
Online electricals retailer AO has delivered another strong performance in its full-year trading update for FY26, with revenue growth of around 11% and adjusted profit before tax hitting the top end of upgraded guidance at £45-£50 million.
Notably, in the coming weeks, AO will become the first company globally to reach one million Trustpilot reviews, maintaining an exceptional 4.9 out of 5 rating.
The milestone underscores the company’s reputation as the UK’s most trusted electricals retailer in a notoriously complex category involving large, logistically challenging deliveries.
Humble beginnings and relentless customer focus
Founder and CEO John Roberts started AO 26 years ago in a small Bolton office with just three people and a big dream. The business originated from a famous £1 pub bet with a friend that he could disrupt the traditional way of buying white goods by selling them online.
That scrappy start has evolved into a major listed company with thousands of employees, a vast product range spanning major and small domestic appliances, mobile phones, AV equipment, laptops, and more, plus ancillary services like installation, recycling, and customer finance.
“Having founded AO 26 years ago in a small office with three people and a dream, I am incredibly proud to have reached this milestone, which is a testament to the entire team,” Roberts said in the trading update.
“To achieve that in a logistically difficult category highlights the structural advantage we have been building with world-class quality at scale. This underpins our reputation as the UK’s most trusted electrical retailer, and the value of it sits on our balance sheet at zero.”
Strong financials and operational momentum
For the full year to 31 March 2026:
- Total Group revenue: Expected to grow ~11%.
- B2C revenue: ~9.5% growth, supported by market share gains across key categories (per GfK data).
- Adjusted profit before tax: At the top end of £45-£50 million guidance, equating to roughly 15% year-on-year growth, outpacing sales growth despite cost pressures.
- Free cash flow: ~£65 million (up significantly from £23 million in FY25).
- Liquidity: ~£200 million at period end, with strong cash conversion.
The company highlighted effective hedging, such as covering80% of fuel and 100% of electricity needs for FY27, amid geopolitical uncertainties. AO also operates AO Business for B2B and a WEEE processing facility for responsible e-waste handling.
Roberts credited the company’s shared economics strategy and membership model, built on brilliant retail basics, for driving momentum. He added that an exciting pipeline of new initiatives is in the works, with full-year results due on 17 June 2026.
Trust as the ultimate differentiator
AO’s customer obsession has paid off in tangible ways.
It has consistently ranked among the highest-rated major retailers on Trustpilot, passing milestones like 100,000 reviews years ago, 500,000 more recently, and now racing toward one million at a near-perfect 4.9 score.
In a sector where delivery and installation issues can easily erode trust, AO has turned service into a structural moat.
This focus has translated into repeat business, market share gains, and a brand that stands out in a competitive online retail landscape dominated by giants.
With profits growing faster than revenue, robust cash generation, and a clear emphasis on customer experience, AO appears well-positioned for continued profitable growth. The company is expanding its product assortment, enhancing its membership offering, and investing in operational excellence.
As Roberts put it, “The numbers speak for themselves again and I am delighted to keep doing our talking on the pitch.”
For a business that began with a three-person team and a bold wager, reaching one million glowing customer reviews while delivering solid financial results is more than a milestone – it’s validation of a customer-first model that has scaled successfully in one of retail’s toughest categories.
