April 10, 2019 / 6:15 AM / 9 days ago

ASOS H1 pre-tax profit down 87 percent y/y

MADRID, April 10 (Reuters) - British online fashion retailer ASOS on Wednesday reported an 87 percent drop in pre-tax profit in the first-half, hurt by poor trade in the crucial run-up to Christmas and logistical hiccups as it entered the U.S. market.

Pre-tax profit for the six months to end-February came in at 4 million pounds ($5.23 million) on sales up 14 percent to 1.31 billion pounds.

“Our performance across H1 has been disappointing and we are capable of achieving more,” the company said in a statement. “We are confident of delivering a stronger performance in the second half.” ($1 = 0.7654 pounds) (Reporting By Sonya Dowsett; Editing by Paul Day)

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