MARKET TALK: ASOS FY In Line - Investec

9th Jun 2010 10:04

0904 GMT [Dow Jones] ASOS's (ASC.LN) FY results are in line with Investec Securities' and the market's expectations. Says current trading remains strong, with group sales growing by 58% in the first nine weeks of FY '11. Says the main news is ASOS's announcement of a GBP20M investment into a new warehouse, supporting its international ambitions. Still, remains cautious on gross margin development. Keeps the stock at hold and puts its 570p price target under review. Shares +4.6% at 662p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 09, 2010 05:04 ET (09:04 GMT)