AO World PLC (LSE:AO.)’s share price has been recovering steadily since July when it confirmed it had sorted out its problems and was back on an even keel again.
The white goods retailer posted a full-year pre-tax profit of £7.6 million, though on an underlying basis, profits almost doubled to £45 million.
AO was also confident enough to voice an EBITDA/underlying profit ambition of at 5% of sales “in the short and medium term”.
On last year’s turnover of £1.4 billion, that would imply £57 million or at least another decent profit uptick and investors will be looking for confirmation of that target with the company's interims for the six months ended 30 September 2023, due to be released on 21 November.
White good sales generally should also be an insight into the mood of the UK consumer and what it says about that should also be worth noting.