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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  ASOS Plc    ASC   GB0030927254


Delayed Quote. Delayed London Stock Exchange - 04/12 11:35:33 am
5240 GBX   -2.24%
07:02aASOS  : Gets a Buy rating from Jefferies
06:57aASOS  : Buy rating from JP Morgan
04/09ASOS  : Gets a Buy rating from Credit Suisse
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

ASOS : wary on outlook as finances of 20-somethings face pandemic hit

04/08/2021 | 06:12am EDT
A keyboard and a shopping cart are seen in front of a displayed ASOS logo in this illustration picture

LONDON (Reuters) - British online fashion retailer ASOS reported a 275% jump in first-half profit, driven by the popularity of e-commerce during the pandemic but was cautious on the short-term outlook given concerns about the economic prospects of its young customers.

ASOS, which sells fashion aimed at 20-somethings, said its expectations for full 2020-21 year profit had increased in line with the first-half performance, but its outlook for the second half had not changed.

CEO Nick Beighton said the group was well positioned to capture demand for products bought for social events and holidays when lifestyles normalised.

However, it was retaining caution on the near-term consumer outlook due to uncertainty over the financial prospects of its youthful customer base, the timing of global restrictions lifting and possible further COVID-19 spikes.

"Anything that affects 20-something lives and economics, we are mindful of and concerned," Beighton told Reuters.

"We are still in the midst of the pandemic and we think the economic consequences are still to play out."

Shares in the group were down 1.6% at 0915 GMT.

ASOS has traded through coronavirus lockdowns while store-based rivals have had to close shops. It also benefited from fewer products being returned by shoppers, as well as investment in products, pricing and marketing.

The group made an adjusted pretax profit of 112.9 million pounds ($155.3 million) for the six months to Feb. 28, up from 30.1 million pounds in the first half of its 2019-20 year.

Sales rose 25% at constant exchange rates to 1.98 billion pounds as its active customer base increased by 1.5 million to 24.9 million.

Beighton said he expected the consensus of analysts' full year forecasts to rise from about 170 million pounds to 190-200 million pounds.

"The steer we will be giving is effectively, bank the overperformance in the first half and hold it flat for the second half," he said.

In February, ASOS bought the Topshop, Topman, Miss Selfridge and HIIT brands from the administrators of Philip Green's collapsed Arcadia group for 265 million pounds, aiming to accelerate its multi-brand strategy.

Beighton said the integration was progressing to plan and the group was "highly likely" to make more acquisitions.

($1 = 0.7268 pounds)

(Reporting by James Davey; Editing by Costas Pitas and Pravin Char)

By James Davey

© Reuters 2021
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Sales 2021 3 930 M 5 401 M 5 401 M
Net income 2021 146 M 201 M 201 M
Net cash 2021 126 M 173 M 173 M
P/E ratio 2021 35,8x
Yield 2021 -
Capitalization 5 338 M 7 325 M 7 337 M
EV / Sales 2021 1,33x
EV / Sales 2022 1,09x
Nbr of Employees 3 824
Free-Float 68,3%
Duration : Period :
ASOS Plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ASOS PLC
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 5 853,67 GBX
Last Close Price 5 360,00 GBX
Spread / Highest target 39,9%
Spread / Average Target 9,21%
Spread / Lowest Target -36,6%
EPS Revisions
Managers and Directors
Nicholas Timothy Beighton Chief Executive Officer & Executive Director
Mathew James Dunn Chief Financial Officer & Director
Adam Alexander Crozier Chairman
Ian Dyson Senior Independent Non-Executive Director
Karen Geary Independent Non-Executive Director
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