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Asos jumps on in-line results

Shares were up by a fifth, despite results in line with expectations
October 16, 2019

It has been a difficult year for Asos (ASC). Management admits to having been “overambitious” in its international expansion, leading to problems with stock availability, sales and costs in the US and EU – two key growth markets for the group. The full-year results showed pre-tax profits down by 68 per cent, while the gross margin was down 240 basis points. Why then, were the shares up by a fifth?

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