AO World said today that it had stockpiled goods worth £15m in the run-up to Brexit.

It said it had increased stocks of core fast moving inventory items to the tune of £15m, with a corresponding effect on its cash reserves. “This will help ensure we can continue to deliver our market-leading proposition to our customers,” it said.

The update came as AO World said, in a trading update, that it expected full-year group revenue to come in at about £900m, a rise of about 13% year-on-year. UK revenue would account for £748m of that, 9.8% up on last year, while European revenue of €174m is expected to be 32.1% ahead. It said that earnings for the year to March 31 would be at the lower end of market expectations.

AO World trades as AO.com in the UK, a Leading retailer in