Asos expects full year profit to be at lower end of expectations

In a trading update for the 12 months ended August 31, 2022, Asos plc said profit is anticipated to be around the bottom end of company guidance, with constant currency sales growth of 2 percent and net debt of 150 million pounds.

The company said in a release that full-year sales, adjusted PBT and net debt are anticipated to be in the range of market expectations, however, after having seen good growth in June and July, sales in August were weaker than anticipated. This reflected the impact of accelerating inflationary pressures on consumers and a slow start to autumn/winter shopping.

Asos will report full-year results on October 12, 2022.