Asos delays publication of annual results
Online fashion retailer Asos has postponed the publication of its annual results by one week to 1 November due to its auditor needing more time.
The company said in a statement: “The short delay is to allow its auditor, PwC, to complete its planned testing. PwC has assured the board that the outstanding procedures are limited in nature. “
Asos also said that its performance in the period to 3 September 2023 was in line with that reported in its post-close trading update in September. At the time, it also said sales were hit by wet weather in July and August.
The company expects to report full year adjusted group revenue of £3.54 billion with half year adjusted EBIT of more than £38 million, which will result in a full year adjusted EBIT loss of no more than £31 million for the year.
Asos has reduced its inventory by 30% year-on-year as part of its Driving Change programme to improve profitability.
