Asos: H1 adjusted profit falls to £14.8m

(CercleFinance.com) - The group has reported sales growth of 4% (at constant exchange rates) to just over 2 billion pounds (£2,004.
1m) for the six months to 28 February 2022.

It achieved a continued increase in active customers to 26.7 million, up 0.3 million over six months.

However, Asos' gross margin decreased by 190 basis points due to increased customs clearance activity and high freight costs.

Adjusted profit before tax was 14.8 million pounds (a far cry from the 112.9 million pounds posted in the same period last year), in line with expectations, despite industry-wide supply chain constraints impacting stock availability and continued COVID-19 restrictions.

The market seems to be focusing on the plus points, with the share up about 1% in a market that is down by about that in London.


Copyright (c) 2022 CercleFinance.com. All rights reserved.