ASOS plc - P122 trading update, in line

Davy Research
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After a bloody second half of 2021, and arguably despite the impact of the Omicron COVID variant, ASOS (ASC) printed the four-month P122 ‘in line’. It is better but clearly uncertainties remain as the global economy emerges in a very fragmented way from COVID. Perhaps it is not a meaningful step forward but not a step backward. The announcement of the transition to the Main Board has been long awaited and, given the scale of the business, the AIM listing has been an anachronism.