All’s well that ends well it seems. Having taken a tumble in July, when bosses admitted annual revenues would grow at a rate towards the lower end of expectations, shares in online fashion group Asos (ASC) rebounded 15 per cent on the back of these full-year numbers. The market reaction suggests investors were more than satisfied with the eventual increase in the top-line and statutory profits, the latter of which trumped the consensus and the adjusted pre-tax forecast of Peel Hunt. Analysts at the broker still expect to see an 18 per cent hike in adjusted profits for FY2019, equating to EPS of 114p (from £102m and 98p in FY2018).
IC TIP:
Buy
at
5644p