ASOS to be operational by mid January
Loss of profit and damage to assets covered by insurance. Results for the year ended 31 March 2006 likely to be in line with market expectations.
The company said “Further to the announcement on 12 December 2005 concerning the damage caused to the Company’s warehouse at Hemel Hempstead as a result of the explosion at the Buncefield fuel depot, it would now appear that most of the damage can be rectified within the next few weeks and that the business should be fully operational with effect from mid January 2006.
The Board confirms that the business has been carrying comprehensive insurances to cover loss of profits and damage to its assets. The Company’s insurer, Fusion Insurance Services Limited, has been exceptionally supportive and a significant interim payment has been received.
The Board believes that this interruption will not affect profits for the financial year ended 31 March 2006, which are likely to be in line with market expectations.Despite the disruption to the business, the Board is confident that no long term damage has been done to the brand.
The Directors have now requested the lifting of the suspension of trading in the Company’s ordinary shares”.
