Asos, Just Eat, Man Group: Morning Roundup

UK stocks began their descent on Wednesday, casting doubt on the likelihood of a third day of increases. UK inflation came in at 10.1% for September, an increase from August, primarily driven by an increase in the price of food and non-alcoholic beverages.

Thus, below is some of the latest news from London-listed stocks on Wednesday.

Asos

  • Asos said they had delivered a good performance despite the weakening consumer environment.
  • The group posted its final results, which saw revenue of £3.9 billion, up 1% from the prior year.
  • In addition, the group posted an operating loss of £9.8 million, down 105%.
  • Asos warned it expected a decline in the apparel market over the next 12 months.

Just Eat Takeaway

  • Just Eat said it made an underlying quarterly profit earlier than expected.
  • The total value of orders rose 2% in the quarter, reflecting higher menu prices, despite the number of orders weakening.
  • EBITDA was supposedly positive in the third quarter, ahead of guidance issued at the start of the year.

Man Group

  • Man Group reported its trading statement, which saw an AUM of $138.4 billion as of 30 September.
  • Furthermore, the company’s net outflows equaled $0.5 billion during a difficult quarter for the asset management industry.
  • Elsewhere, the group reported a negative FX impact of $4.5 billion.

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