Annual pre-tax profits climbed 186% to £34.3m, lifted by television upgrades and tumble dryers

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The online electrical goods seller AO World has enjoyed a near-tripling of profits thanks in part to booming tumble dryer sales during the wet winter and televisions for Euro 2024.

Revenues at the retailer, which sells 15% of all domestic appliances in the UK, were also bolstered by the continued popularity of air fryers, with the company attributing this to customers looking for a cheaper alternative to takeaways amid the cost of living crisis.

Daniel Křetínský asks more than 100,000 shareholders, including current and former staff, to sell shares

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The Czech billionaire bidding to buy Royal Mail has sent letters to more than 100,000 shareholders, including current and former staff, setting out its formal £3.75bn offer for the business.

Daniel Křetínský’s EP Group is asking Royal Mail staff, who own more than 5% of the shares in the company, to sell in a move that would help pave the way for the takeover.