ASOS (LON:ASC) - business might be booming but the valuation looks crazy!
The numbers were indeed excellent with sales for the 12 months to 31st March 2009 up 104% to £165m and profit before tax expected to be ahead, but only slightly, of market expectations.
As at 31st March 2009 the business had £13.6m of cash so presents a very different picture to those indebted retail peers.
At the operating level the business continues to perform admirably in the face of an extremely tough retail climate, begging…
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