Asos improves profits despite drop in sales
Pureplay fashion retailer Asos has said it expects profits to be at the lower end of its guided range, despite sales coming in below expectations, as it enters the “final phase of its transformation.”
In a full year trading update, Asos said its adjusted EBITDA was up more than 60% to between £130m and £150m, with an adjusted EBITDA margin of 5% – also in line with earlier consensus.
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