In a big week for second-tier retailers, white goods specialist AO World PLC (LSE:AO.) should be in good spirits having upgraded guidance at the end of March.
Brokers are looking for revenues of around £1.04 billion, down 9% year-on-year, but a big rebound in profits to £33.4 million as its costly foray into Germany finally washes through.
Reflecting that, margins should be up (gross margins at 23.1% suggests Deutsche Bank) which, together with continued opex discipline, should drop through to a 3.2% pre-tax margin.
Net cash at year-end should be £34 million, the bank predicts, after strong conversion during the year.
Shares have risen almost three-fold over the past two years but still have a ways to go to match the peak pandemic highs of 2021.