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Retail

Asos delays results to complete audit; guidance unchanged

Asos PLC is delaying 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.

The results had been due tomorrow.

But it said performance for the period to September 3 is in-line with that reported at the post-close trading update on September 26.

It expects to report full year adjusted group revenue of £3.54 billion, second half adjusted earnings before interest and tax of more than £38 million, resulting in a full year adjusted EBIT loss of no more than £31 million.

Alongside the results, Asos Chief Executive José 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.

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