Tuesday preview: Asos to report 'positive momentum' in full-year

19th Oct 2015 14:20

(ShareCast News) - Online fashion retailer Asos is expected to report "a continuation of positive momentum" in full-year sales on Tuesday, according to HSBC analysts.The popular website is forecast to report a 19% jump in revenue to £1.16bn as busy shoppers increasingly turn online for their clothing purchases.Earnings before interest, depreciation and amortisation (EBITDA) of £74m is estimated, compared to £62m the previous year, while profit before tax is expected to remain at £47m due to a strong pound against other currencies."Positive momentum should ensure a full year outturn in line with expectation: Asos has already delivered a positive third quarter (10 months) trading update with strong sales growth and better-than-expected gross margins," HSBC said in a note to clients."We expect that continued momentum will drive increased confidence in the long-term potential of the business, driving consensus upgrades over time and improving investor sentiment."In July Asos reported a 21% jump in group retail sales, with growth across the UK, the US, Europe and rest of the world. Tuesday 20 October INTERIMS 1Spatial, Quantum Pharma, Whitbread INTERIM DIVIDEND PAYMENT DATE Graphite Enterprise Trust, John Laing Infrastructure Fund Ltd, Standard Life INTERNATIONAL ECONOMIC ANNOUNCEMENTS Balance of Payments (EU) (09:00) Building Permits (US) (13:30) Current Account (EU) (09:00) Housing Starts (US) (13:00) Producer Price Index (GER) (07:00) Q3 ARM Holdings, Verizon Communications FINALS ASOS ANNUAL REPORT Allergy Therapeutics IMSS InterContinental Hotels Group SPECIAL DIVIDEND PAYMENT DATE Synergy Health EGMS RM2 International S.A. (DI) AGMS Allergy Therapeutics, Frontier Developments, Mcbride, Scancell Holdings TRADING ANNOUNCEMENTS Synety Group