► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs<br /><br />AO World shares have fallen after the white goods retailer, a high-profile UK flotation last year, warned full-year profits would be almost a fifth lower than expected. Lex's Rochelle Toplensky and Rob Armstrong analyse AO World's valuation and outlook.<br /><br />► Lex: http://bit.ly/1I14JZF<br /><br />► FT Business: http://bit.ly/1KUK08s<br /><br />Make better investment decisions with Lex<br />http://www.ft.com/lex<br /><br />Click here for more Lex videos<br />http://video.ft.com/Lex<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
