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ASOS Plc 4-month Revenue Rises; Backs FY Outlook - Quick Facts

ASOS Plc (ASOMY.PK,ASOMF.PK,ASC.L), an online retailer, reported Thursday that its four-month total group revenue increased 2 percent to 1.39 billion pounds from last year's 1.36 billion pounds.

Total group revenue for period increased 5% at constant currency rates.

In its trading statement for the four months ended December 31, the company reported that UK total sales grew 13 percent on a reported basis to 645.2 million pounds, and US total sales grew 7 percent.

Meanwhile, EU total sales dropped 3 percent, and ROW total sales fell 20 percent.

The company noted that supply chain constraints played out as anticipated, whilst market demand remained volatile due to significantly increased COVID caseloads across large parts of the UK, Europe, and the US.

Looking ahead, the company said the guidance for the year remains unchanged with revenue growth expected in the range of 10%-15% and adjusted profit before tax of 110 million pounds to 140 million pounds.

The company said the demand and returns rate uncertainty related to the Omicron variant are expected to remain in the short term.

Separately, ASOS announced the appointment of Patrick Kennedy, Chairman of Bank of Ireland Group plc and the former Chief Executive of Paddy Power plc, to its Board of Directors with immediate effect.

Kennedy replaces Ian Dyson as the Senior Independent Non-Executive Director and Audit Committee Chair, following Dyson's appointment as Non-Executive Chair of the Board in November.

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