NEWS IN BRIEF

Online electricals retailer AO World yesterday hiked it annual earnings outlook for the third time in just over three months, sending shares soaring over 25 per cent. The Bolton-based group said its profitability has seen a better-than-expected improvement as it drives cost savings thanks to a "resilient" customer base. AO World said price increases across mobiles have also been slightly higher than forecast. It expects underlying earnings to be in the range of £37.5m to £45m for the full year, up from the £30m to £40m guided for last month.

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