(News Bulletin 247) – The research office UBS maintains its Neutral recommendation on the title ASOS and keeps its price target at 660 pence.
‘ASOS announces new long-term financing of £275m and a fully subscribed £75m capital raise’, the analyst points out to explain his rating.
Recall that the British group, accustomed to profit warnings, saw its sales fall by 8% to 1.84 billion pounds over the six months to the end of February, the first half of its fiscal year.
Its adjusted earnings before tax and interest (Ebit) showed a loss of 69.4 million pounds over the period, compared with a profit of 26.2 million a year earlier, while analysts were only anticipating a loss of 40 million.
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