Monday November 17, 10:18 AM
STOCKS NEWS UK SMALL-Internet retailer ASOS up,trading buoyant
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09:53GMT 17Nov2008-Internet retailer ASOS (LSE: ASC.L - news) up, trading buoyant
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Shares in ASOS, the AIM-listed British Internet fashion retailer, gain as much as 8.2 percent after reporting a 68 percent increase in first-half pretax profit and buoyant current trading.
Bucking a gloomy retail sector trend in the UK, the company says its sales in the first seven weeks of its second-half were up 104 percent.
David Stoddart, analyst at Altium Securities, retains his 'buy' recommendation and year to end-March 2009 pretax profit forecast of 13.4 million pounds.
'Despite the economic headwinds, it seems increasingly likely that ASOS will exceed our sales forecasts for full year 2009,' he says.
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