24th Oct 2023 16:21
(Alliance News) - Asos PLC on Tuesday said it was delaying the publication of its annual results by one week, although it stressed financial guidance remained unchanged.
The online fashion retailer will now announce its financial 2023 results on November 1 to allow its auditor, PwC, to complete its planned testing. PwC has assured the board that the outstanding procedures are limited in nature, Asos said.
Performance for the period to September 3 is in line with that reported at the post-close trading update on September 26, Asos commented.
It expects to report full-year adjusted group revenue of GBP3.54 billion, second-half adjusted earnings before interest and tax of more than GBP38 million, resulting in a full-year adjusted Ebit loss of no more than GBP31 million.
In addition, inventory is forecast to have reduced by around 30% from the year before, while cash and undrawn facilities as at September 3 total GBP428 million.
Alongside the results, Asos Chief Executive Jose Antonio Ramos Calamonte will host a strategy update which will feature a series of short presentations from senior management who will provide a broader update on the medium-term outlook.
Shares in Asos were down 3.3% at 388.20 pence in late trading in London on Tuesday.
By Jeremy Cutler, Alliance News reporter
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