Three things you need to know in the financial markets today from investment writer, Tony Cross.
#1. £32m reported full year loss for ASOS
Full year results are out from ASOS LON:ASC this morning, with the fast fashion play noting revenues up by 1% although margins have been eroded by 180 basis points. The bottom line is that the company will post a £32m loss for the year against a £177m profit for FY21. Management have laid out a number of objectives to simplify the business and unlock long term sustainable growth but given the underlying macroeconomic backdrop, forecasts are difficult to make.
#2. Just Eat Takeaway Q3 numbers show return to profitability
There’s a Q3 trading update from Just Eat Takeaway [LON:JET], noting that the company has returned to profitability earlier than had been expected. Order numbers are down across the board – an end of the last of the COVID restrictions is seen as being behind this – but year on year transaction values have risen in the vast majority of instances.
#3. DX Group shares to resume trading today
Parcel and courier provider DX Group [LON:DX] has this morning announced that its stock market listing will be restored. Shares have been suspended since January after the company was unable to publish audited accounts owing to governance concerns. With these now addressed the company will be keen to move forward and notes that results for the year ending 2nd July will be published in the second half of next month.
