ASOS (AIM: ASC) FY16 RESULTS: REVENUES AND EPS BEAT

Executive Summary

• British online fashion retailer ASOS reported £1,444.9 million in revenues, in the 12 months ending August 31, 2016, above the consensus estimate of £1,436.6 million and up 26% year over year. FY16 constant-currency revenues increased 26% year over year.
• FY16 diluted EPS from continuing operations was 61.8 pence, up 42% from 43.4 pence in FY15, and above the consensus estimate of 59 pence.
• ASOS stated that the strong performance is continuing into the new fiscal year, and the company expects FY17 revenue growth to fall in the range of +20% to +25%. The company also stated that it expects FY17 margins to remain broadly stable, but that capital expenditures could increase to between £120 million and £140 million, up from £87 million in FY16.