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UK fashion retailer ASOS reports 36% rise in profit

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By Reuters
UK fashion retailer ASOS reports 36% rise in profit
UK fashion retailer ASOS reports 36% rise in profit   -   Copyright  Thomson Reuters 2021

LONDON – Online fashion retailer ASOS reported a 36% rise in full-year profit on Monday after seeing exceptional demand in its home British market, but added that supply chain pressures and higher costs would weigh on its 2022 outcome.

The company, which also announced the departure of chief executive Nick Beighton, reported adjusted pretax profit of 193.6 million pounds ($264.3 million) for the year to end-August, It said it expected the outcome for the current year to be in the range 110-140 million pounds.

($1 = 0.7324 pounds)