7th Apr 2020 16:46
(Alliance News) - ASOS PLC said Tuesday it has made a strong performance over the first half of its financial year, as it moves closer to a potential equity issue and extension of its debt facilities.
Shares in ASOS rose 32% on Tuesday in London, closing at 1,534.50 pence
The online fashion retailer said its performance for the six months to the end of February was strong, with sales growth in excess of 20% as the strong momentum over the peak period continued into January and February.
ASOS said this has led to a strong first half profit and earnings before interest and taxes margin.
"Whilst the company's financial position remains robust, the duration and impact of the Covid-19 related crisis remains uncertain and ASOS wants to ensure it can weather and exit the current trading environment in a position of strength. The company confirms that it is close to finalising a potential equity issuance and extension to its debt facilities," the group stated.
By Dayo Laniyan; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.
Related Shares:
ASOS