ASOS have dropped quite significantly in the past week for no particular reason and I view this as the perfect opportunity to invest as I can see them bouncing right back up to the 5.50p mark in the next 2-3 weeks. STRONG BUY!!

The hitwise figures have stayed pretty level over the summer so that trading is likely to have retained the previous levels, whereas the company were quite cautious. Presumably the warehouse is now fully in action and it may be that the company are going to come out with further growth plans. Any insights?

Eric

still in like the faithful hound I am with a small holding up 33% as I write.

seems like some people close to the action may smell a little AGM blood to account for the last two days' rise.

sd

Tried to take a fresh look at ASC and as a result bought back in on Friday. Had taken profits on the run up from 43p around 70p so left some funds on table. Key points are:

1. New broker recommendations from Seymour Pierce and Shore Capital. SP are house brokers so will have up-to-date picture and we can assume all has gone well with the warehouse move.
2. AGM last year on 15th Sept was accompanied by bullish trading statement. Can't see a reference to this year's date but they are unlikely to be much behind last year if at all.
3. Slightly cautious statement with finals said "Quieter summer, warehouse move and all important Christmas Pedriod to come". However, Hitwise figures have stayed up so Q2 trading likely to emulate Q1. Given that last year's Xmas period margins were hit by stock-keeping problems and one of the effects of the new warehouse and systems is reported to be reduced costs, SP forecast figures look cautious. They forecast EPS to rise from 1.12p to 1.53 whereas I would be surprised if they were less than 2p reducing the projected pe to 27. Still quite demanding but we are talking about profits doubling and this should continue at a high %. We should get new projections following AGM and again once the Xmas season is under way.

I am looking for 1 on this run-up with strong publicity. We may also get one or more new business initiatives with the warehouse move out of the way. The cost of entry to the US market must be relatively low, relating to warehousing and marketing but you would expect their model to be very successful over there. John Marshall of Shares is a holder and a keen student of teh company and his comments will be pertinent. (sd: that has nothing to do with impertinence, so don't worry!)

Eric

Hi, eric - seems a long while ago since we first met on here last September.

I'm quietly confident we shall continue up to 85-90 by November/December. Whether we break 90p, in which case we could go 1+, or hit that resistance and retreat down another flag until March 2006 trading update can't be told from here. 1 around the March update at least - 33% over 6 months is quite respectable. That'll be about 73% over average a year for me - not too bad, but not exceptional. Can't see a reason to sell, if I'm going to get another 40% over a second year (and 25% over a third??) - low risk in old friends is quite comforting.

US could be tricky - fashion and shopping styles are quite different from here. But on-line retail in US is pretty strong and, if they get the merchandising right they could do well. That would keep the growth rate up.

Less keen on any other diversification - their product placement seems more of a diversion from the main event than a second profit stream - especially as film making in UK is in a decline currently. I'd like to see them stick to the single core business and expand geographically, rather than tack on also ran divisions.

2 by Xmas 2006 is a more interesting proposition than 1 by Xams 2005.

sd

eric shares are attending the agm so there will be update in shares seems a long time ago since the results?

Thanks, WOODIE, that'll be John Marshall so he is sure to get the full pciture. Do we know the AGM date?

Eric

Morning all,
Hemscott web site says agm 15 sept 05..............SD

seadog seems soon as i have not got my voting card yet seems ages since the results or is it me?

WOODIE
Eric posed the question so I took a quick look at the hemscott web site as the last refs cd I have is May and hemscott says agm 15 sept 2004 and 2005, I also have not got any communication from ASOS. It also says Interim results 8th Sept 2005, soit looks as though its all going to happen thursday this week..........SD

seadog thanks thought mine might have got lost in post

Can't be interims before the end of H1 on 30th September! Maybe a trading update.

sd

sd,
Thats what it says on the web site, check yourself @ www.hemscott.com a favorite of mine for odd bits of info...........SD

sd,
It also says interims 2004 on 29th Nov !!!!!!!! SD

Curiouser and curiouser, thought Alice to herself.

Go to France tomorrow until Saturday to stock up on liquid refreshment !! I look forward in anticipation of both..........SD

Given the lack of advice of the AGM date and distribution of papers, it seems likely that the AGM is later this year. I suspect Hemscott just repeat last year's date on their information sheet - if the same week, more likely to be on the Wednesday again, 14th September. Given that they combine the AGM with a trading update, it makes sense for this to cover 6 months rather than 5 months as last year.

Hope Seadog is not going to smuggle his booze in - used to be done at Winchelsea so let me know if you need assistance!

Eric

Eric,

I learnt at a very early age in my seafaring career that there are two agencies you do not **** around with. No1 Her Majesties Inland Revenue. No2 HM Inspector of Customs. Now I believe under the same flag. So I shall pay the required duty--- But in France, as their regime of tax is more benign than Mr Browns when it comes to Liquid refreshment and every pound I can divert in this manner adds to the enjoyment. 63 saving on the Gin alone paid for the ferry .............SD

ASOS changed their year end from 31/12 to 31/3 making a 15 month period for the last full accounts.

They still have to have an AGM within 18 months of the last one, 15/9/04 - so they have plenty of time. Usually they issue an RNS announcing it, at least a monith in advance. Maybe they are waiting for the end of H1 (30/9/05) for it, so they can do a trading update at the same time.

ASOS plc
(' ASOS' or 'Group')
('A leading Internet based fashion retailer')

ANNUAL GENERAL MEETING
MONDAY, 17 OCTOBER 2005

ASOS, a leading internet based fashion retailer, will be holding the Annual
General Meeting at 2.30 pm on Monday, 17 October 2005 at:

ASOS.com,
Maylands Avenue,
Hemel Hempstead,
HP2 6DE.

The Annual Report is being posted to shareholders this Wednesday, 14 September
2005 and the Annual General Meeting will provide an opportunity for shareholders
to see the new warehouse which is now fully operational.

ASOS plc
Nick Robertson, Chief Executive 020 7240 7070
Jon Kamaluddin, Finance Director

AGM date set for 17th October which will allow H2 results to be promulgated as predicted by the perspicacious sd (he'll give dogmatic translations for those two from his dogtionery!). Note first that the meeting is at the new, fully operational, warehouse so that they can show it off to shareholders so obviously proud of it. Second, registered users up almost 10% since June so keeping up their acquisition rate. That suggests they will be maintaining their 100% year upon year or near it so that broker forecasts likely to be beaten.

Eric