Asos raises full year revenue and profit outlook on strong demand

Asos plc expects sales and profit growth for the full year to be ahead of market expectations. The company anticipates revenue rise between 17 percent and 19 percent with PBT in the region of 130 million pounds-150 million pounds. The company said in a statement that improvement in expectations is supported by stronger than anticipated underlying demand and the continuation of the beneficial returns profile.

According to the consensus among analysts polled by Reuters, Asos revenue is expected to increase by 13 per cent and profit before tax to be about 53 million pounds.

However, the company added that “the consumer and economic outlook remains uncertain and it is unclear how long the current favourable shopping behaviour will persist”.

Asos’s websites attracted 235.7 million visits during June 2020 and as at 30 June 2020 it had 23.0 million active customers, of which 7 million were located in the UK and 16 million were located in the international territories.

Picture:Facebook/Asos