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Investors in AO World will be hoping all the bad news has already come out in the wash

Last updated: 15:00 04 Jun 2019 AEST, First published: 21:25 03 Jun 2019 AEST

White goods warehouse

Full-year results from FTSE All-share-listed AO World PLC (LON:AO.) will provide the main corporate excitement on Tuesday,  with the online retailer having already warned that it will swing to a loss this year as it battles to recover under its founder, who recently returned to the business.

The white goods specialist said in a trading update in April that earnings would be hit by one-off costs related to a restructuring of the management team, a loss-making contract in Germany and the acquisition of Mobile Phones Direct at the end of last year.

As a result, adjusted underlying earnings (EBITDA) will likely be at the “lower end of market expectations” for between a £0.4mln underlying loss to a £2.0mln profit.

John Roberts was re-appointed as AO’s chief executive back in January after the firm parted company with Steve Caunce, who oversaw a 30% drop in the company’s share price during his two-year tenure.

The focus of the full-year results is therefore likely to be on Roberts’ plan for turning around the business.

Bluejay way

Meanwhile, on AIM, BlueJay Mining PLC (LON:JAY) will release its final results in full on Tuesday having published some details last week after its broker SP Angel unintentionally released some information about them.

The company, which has projects in Greenland and Finland, said it expects to report a loss of £10.8mln for the year, compared to a loss of £2.7mln a year ago, after taking a £8.9mln impairment charge for its Finnish exploration assets.

The group said exploration costs during the year were £6.3mln, compared to £4.6mln the previous year, while administration expenses came to £1.8mln.

It ended the year with £8.8mln of cash and cash equivalents.

Bluejay said it had given notice to SP Angel of the intention to terminate the broker’s relationship with the group in the wake of the “inadvertent” release of information.

Significant events expected on Tuesday June 4:

Finals: AO World PLC (LON:AO.), BlueJay Mining PLC (LON:JAY), DiscoverIE Group PLC (LON:DSCV), Chamberlin PLC (LON:CMH), Palace Capital Plc (LON:PCA), Vianet PLC (LON:VNET), Vp PLC (LON:VP)

Interims: Driver Group PLC (LON:DRV), Gooch & Housego PLC (LON:GHH)

AGMs: Rockrose Energy PLC (LON:RRE)

Economic data: UK construction PMI; US factory orders

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