21st Oct 2014 13:18
LONDON (Alliance News) - ASOS PLC Tuesday said newly appointed Chief Operating Officer Nick Beighton bought 22,150 shares at a price of 2249.618 pence per share.
Following this transaction, Beighton holds 149,944 shares.
Shares in the online fashion retailer have risen after it said it has started looking for a new chief financial officer after current CFO Beighton moved to become chief operating officer with immediate effect.
The retailer reported a drop in pretax profit to GBP46.9 million for the financial year ended August 31, down 14% on its GBP54.7 million pretax profit it reported a year earlier. The fall was in line with expectations, due to heavy investments and a hit due to the strength of sterling. Chief Executive Nick Robertson also warned the company also faces another year of stunted growth.
Asos shares were trading 14.6% higher at 2,228.00 pence Tuesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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