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Asos still comes out swinging

The online fast retailer cautioned investors ahead of these results, but was the warning unnecessary?
October 17, 2018

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 Â£102m and 98p in FY2018).

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