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Birmingham Post
Birmingham Post
Business
Jon Robinson

Second largest shareholder in online electricals retailer AO further increases investment

The second largest investor in online electricals retailer AO has further increased its stake.

Camelot Capital Partners, which is headquartered in the US, has upped its holdings in the listed company from 17.21% to 18.80%.

The move has been confirmed in newly-filed documents with the London Stock Exchange.

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The firm is AO's second largest shareholder, behind CEO and founder John Roberts.

Ruane, Cunniff & Goldfarb sits in third place with Odey Asset Management in fourth.

The move comes as JPMorgan Chase & Co also increased its stake in the company to more than 5%.

AO suffered a turbulent 2021, posting eye-watering sales and profits figures but seeing millions wiped off its value as its share price continued to plunge since January.

The pandemic has had a dramatic impact on AO's finances, helping to drive its revenue by more than 60% to over £1.6bn during the 12 months to March 31, 2021, while its pre-tax profits surged by almost 2,000% to £20.2m.

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