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Frasers Group PLC - Shirebrook, England-based owner of the House of Fraser, Sports Direct and Flannels retail chains - Raises stake in Asos PLC, a London-based online fashion retailer which on Thursday reported a return to an adjusted quarterly profit, to 10.6% on Monday, from 9.9%. The raise in Frasers’s stake in Asos follows three other raises over the past 31 days, to 9.9% last Wednesday, to 8.8% on June 1, and to 7.4% on May 15, from 5.1% before that. Asos earlier Thursday reported that its adjusted earnings before interest and tax for the three months to May 31 were about £20 million higher than a year ago, despite an 11% fall in revenue to £858.9 million from £964.1 million. Current Frasers stock price: 682.04 pence, down 2.4% on Thursday 12-month change: up 5.3% Current Asos stock price: 378.90 pence, up 16% on Thursday 12-month change: down 67% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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