The founder of
"They are not trying to make a flip with us in eight weeks. These are high quality investors. These are not thick people," he said. "People who speculate in short-term returns on a pop at our IPO I can't get too concerned about. They don't give a shit about me so I don't give a shit about them."
Annual operating profit before the pounds 15.4m cost of the IPO fell 2.4% to pounds 8.2m on revenue up 40% to pounds 385m. Including IPO costs AO made a pounds 7.2m loss.
AO floated at 285p a share. The price soared on the day of the IPO, valuing AO at almost pounds 1.6bn, but the shares have traded below the offer price since 10 April. They fell a further 5% yesterday to 248p, valuing AO at pounds 1.04bn.
Roberts, who founded the business in 2000 for a bet, made pounds 86m by selling some of his shares before the flotation.
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