Asos: better-than-expected results, but share drops
(CercleFinance.com) - The share of online clothing specialist Asos is down on Thursday morning, despite the group posting better-than-expected H1 results.
The British group's pre-tax soared to 112.9 million pounds in the six months to end-February, the first half of its fiscal year, compared with just 30.1 million pounds a year ago.
This performance beat analysts' consensus by about a third.
H1 sales rose by 24% to 1.92 billion pounds, above the consensus' growth forecast of around 22%.
UK sales rose 39% in H1, while EU sales were up 18%, with a 16% gain in the US market.
However, in London, the retailer's shares were still down: -3.5% at 11.30 am (CET) on Thursday, in a UK market that was up slightly.
The publication is higher than the official consensus, although the unofficial consensus had risen significantly following results announced by its competitors, which explains the share's fall today, one trader said.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
The British group's pre-tax soared to 112.9 million pounds in the six months to end-February, the first half of its fiscal year, compared with just 30.1 million pounds a year ago.
This performance beat analysts' consensus by about a third.
H1 sales rose by 24% to 1.92 billion pounds, above the consensus' growth forecast of around 22%.
UK sales rose 39% in H1, while EU sales were up 18%, with a 16% gain in the US market.
However, in London, the retailer's shares were still down: -3.5% at 11.30 am (CET) on Thursday, in a UK market that was up slightly.
The publication is higher than the official consensus, although the unofficial consensus had risen significantly following results announced by its competitors, which explains the share's fall today, one trader said.
Copyright (c) 2021 CercleFinance.com. All rights reserved.