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Asos PLC on Tuesday said it was delaying the 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. Performance for the period to September 3 is in line with that reported at the post-close trading update on September 26, Asos commented. 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. In addition, inventory is forecast to have reduced by around 30% from the year before, while cash and undrawn facilities as at September 3 total £428 million. Alongside the results, Asos Chief Executive Jose 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 in London on Tuesday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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