ASOS Plc (ASC.L), an online fashion retailer, on Thursday reported narrower loss for the first half compared with the same period last year despite lower revenue.
The company posted a loss before tax of £137.9 million, compared with a loss of £241.5 million previously.
Excluding one-time items, adjusted loss before tax of £52.4 million, lower than a loss of £69.5 million a year earlier.
Operating loss narrowed to £100.9 million from £210.1 million a year earlier.
Adjusted operating loss narrowed to £18.3 million from £39.6 million in the prior-year period.
Adjusted EBITDA increased by 50% year-on-year to £64 million.
Loss for the period was £131.3 million or 109.9p per share, compared with £198.8 million or 166.8p per share in the prior-year period.
Adjusted loss for the period, however, widened to £62.3 million, from £56.2 million previously.
Revenue declined to £1.116 billion from £1.299 billion, representing a decrease year on year.
Adjusted revenue dropped to £1.114 billion from £1.292 billion last year.
For the full year, the company confirmed its outlook, expecting adjusted EBITDA of £150 million-£180 million.
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