ASOS plc (GB:ASC) has released an update.
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ASOS Plc has reported a significant improvement in its financial position, achieving a £250.7 million increase in free cash flow and reducing inventory by approximately 50% since FY22. Despite a 16% decline in annual revenue, the company has successfully enhanced its gross margins and profit contributions through strategic stock management and a new commercial model. ASOS is now poised for future growth, focusing on customer engagement and expanding its Test & React initiative.
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