Frasers ups Asos stake to 19.3%
Prior to that the group also recently purchased a 11.1% stake in Currys followed by a £75m stake in AO World
Register to get 1 more free article
Reveal the article below by registering for our email newsletter.
Want unlimited access? View Plans
Already have an account? Sign in
Mike Ashley’s Frasers Group has announced that it has once again upped its stake in Asos to 19.3%, up from 18%.
The news comes after the group increased its stake to 17% earlier this month.
The group also raised its stake in Boohoo Group from 6.8% to 7.8%.
Prior to that the group also recently purchased a 11.1% stake in Currys followed by a £75m stake in AO World.
According to Asos’ recent trading update, it returned to profitability after its EBIT rose more than £20m year on year for the three months ended 31 May.
This earnings increase comes despite its revenue dropping 11% from £964m down to £859m in the same period.
Asos now believes that it is on-track to deliver its adjusted EBIT guidance of between £40-60m in H2 FY23.
